broker view10 Sep 2013 21:51
From ADVFN:
"Nomura has maintained its 'buy' rating and 60p target price for electrical retailer Dixons, saying that the company's core businesses are undervalued by the market.
Alongside its first-quarter results, Dixons announced on Thursday that it was disposing of its Pixmania division and its Turkish arm to focus on its core. The closures costs were a lot less than Nomura had expected. It said: "Italy remains the last 'issue' to resolve, but until a deal can be reached, we note the business was slightly cash generative last year and so, in our opinion, is not a significant concern." "