Kingfisher Share News (KGF)

Analysts were largely very impressed by the strategic vision nailed to the wall by Kingfisher's new chief executive Véronique Laury as she lifted the lid on some less impressive full-year numbers.Brewin Dolphin's Nicla Di Palma said the new strategy makes sense, with the new focus on capital discipline and costs spelling good news for margin expansion. Meanwhile, Richard Hunter of Hargreaves Lansdown Stockbrokers said the transformation plan "sounds promising" and the annual results underlined why it was necessary.Citigroup said it sees no clear rationale for Antofagasta in its denied merger with Canadian mining peer Teck Resources, saying that it is unlikely that the UK group is 'in play' in M&A terms.The US bank, which reiterated a 'sell' rating and 690p target price on Antofagasta, said: "Strategically we see no benefits to Antofagasta's minority shareholders from diversification into coal and zinc (although this does hinge on long-term prices); plus risk of a major de-rating risk from losing the pureplay copper premium. The only good rationale would be if Los Pelambres really is at risk (in which case Teck would walk)."Exane BNP Paribas has kicked off coverage of aerospace engineer Meggitt with an 'underperform' rating despite bid speculation and an active share buyback programme supporting the stock over the last year."Buoyed by bid-spec, the company has outperformed this past 12 months and trades close to its relative highs. However we don't believe that the group's earnings quality and increasing pressure on an already weak cash conversion support a takeout above the current price," Exane said.Canaccord Genuity has cut its rating for oilfield services group Petrofac from 'buy' to 'hold' after an "impressive run" in the stock over recent months."The 2H results were well received, and importantly management has been clear that it is not satisfied with the group's current performance. Nonetheless, the stock is up some 65% from the lows of January, and whilst we remain long term believers in the outlook for the Middle East and offshore market, we note that current valuation is well up with events," the broker said.