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The City says: Kingfisher
City broker Investec has cut its pre-tax forecasts for B&Q parent Kingfisher by 2% for the current year, and by 9% for the next.
Despite surprisingly strong interims, released by the group earlier this month, Investec is maintaining it's 'Sell' stance on the company.
However, the broker has raised its target share price by 10p to 120p after Kingfisher secured a higher than predicted price for its Italian Castorama business.
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