3 Feb 2017 12:09
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Don't have an account? Click here to register.Dixons Carphone offers 'solid and realistic' strategy, thinks HSBC
Fri, 11th Jan 2019 11:02
(Sharecast News) - Dixons Carphone management have outlined what looks a "solid and realistic" strategy, HSBC said but analysts still lowered their target price on the electronics retailer.Dixons' new management aims to deliver market share gains, implying positive like-for-like growth in broadly flat markets, expand EBIT margins to 3.5% on the back of £200m in cost savings, and generate £1bn of free-cash-flow over the next half a decade.HSBC felt DC' had presented a "detailed and clear strategy" with realistic targets that could create "substantial value" on a five-year view.The bank's analysts felt the company could be "highly cash generative" with its EBIT margin at 3.5% and said that taking working capital into account, it believes management should "comfortably exceed" their £1bn free cash flow target.HSBC, which lowered its price target on the group from 195p to 150p, said the new strategy had clearly been "thoroughly thought through" and noted that it plays on management's core competencies in digital, credit and systems."We can take confidence from the robust strategic position new management inherit," said HSBC.However, the bank said it "cannot think of a successful retail turnaround in the past five years" - something it noted would likely temper initial enthusiasm."We can take confidence from the robust strategic position new management inherit. With DC already a market leader, gaining share and with high NPS this seems a case of making a good company great rather than rescuing a failing business."
More News
1 Feb 2017 11:47
Goldman starts Dixons Carphone at 'neutral', sees limited scope for re-rating
(ShareCast News) - Goldman Sachs has initiated coverage of Dixons Carphone at 'neutral' with a 350p 12-month price target, saying the company is well-positioned in the medium term to deal with the structural challenges it faces. The bank said that its full-year pre-tax profit estimate for 2018 is br
Read more1 Feb 2017 07:07
TalkTalk CEO Harding resigns as Dunstone becomes executive chairman
(ShareCast News) - TalkTalk chief executive Dido Harding is to resign after seven years at the helm, with chairman Charles Dunstone becoming executive chairman from May after stepping down from the same role at Dixons Carphone. In a separate announcement, TalkTalk said revenue and earnings for the c
Read more24 Jan 2017 07:09
Dixons Carphone delivers Christmas of growth
(ShareCast News) - Dixons Carphone posted its fifth consecutive year of Christmas growth on Tuesday, with revenue ahead 4% on a like-for-like basis for the 10 weeks to 7 January. The FTSE 100 electronics retail group saw revenues surge 6% in the UK and Ireland, and by 5% in Southern Europe. Revenue
Read more14 Dec 2016 07:05
Dixons Carphone beats forecast as it prepares for 'more uncertain times'
(ShareCast News) - First-half profits from Dixons Carphone grew faster than expected and upped its dividend as the electricals retailer confidently prepared for its crucial festive season and "more uncertain times ahead" as the UK exits from the EU. In the 26 weeks to 29 October, including a boost f
Read more1 Dec 2016 15:51
Broker tips: Dixons Carphone, Wizz Air, TalkTalk
(ShareCast News) - Dixons Carphone racked up some healthy gains on Thursday as Credit Suisse initiated coverage of the stock at 'outperform' with a 12-month 420p price target, implying a one-year total shareholder return of 30%. CS argued that Dixons Carphone was a rare example of a successful retai
Read more1 Dec 2016 14:17
Credit Suisse starts Dixons Carphone at 'outperform'
(ShareCast News) - Dixons Carphone racked up some healthy gains on Thursday as Credit Suisse initiated coverage of the stock at 'outperform' with a 12-month 420p price target, implying a one-year total shareholder return of 30%. CS argued that Dixons Carphone was a rare example of a successful retai
Read more