Barclays Sets Kingfisher Equal Weight, Lowers Target

Barclays upgraded Kingfisher Plc to “equal weight” from “underweight”, cutting price target to 300p (down from 330p).
EPS forecasts trimmed 4‑6%, placing FY26/27 pre‑tax profit at £580 m, the low end of the company’s £565‑625 m guidance.
Marketplace GMV rose 58% to £518 m in FY25/26, adding 18bps to gross‑margin expansion and boosting trade penetration to 30% (£3.9 bn).
Barclays forecasts FY28/29 EPS 32p, near LTI plan midpoint, and projects group like‑for‑like sales to fall 1% in Q1 FY26‑27.