Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 250 movers: Currys surges on Berenberg upgrade
(Sharecast News) - FTSE 250 (MCX) 20,694.38 1.26%
Berenberg upgraded Currys on Thursday to 'buy' from 'hold' and lifted the price target to 90p from 67p as it said the electricals retailer was "a sound way to play the expected improvement in UK retail demand".
Berenberg said Currys' improving sales momentum, expansion of market share and presence within a significantly depressed, highly discretionary segment of domestic retail makes it well placed to benefit from a near-term rebound in demand.
"Despite a record of building sales momentum and UK end-market dynamics that are well suited for demand recovery, Currys trades on a significant discount to peers," it noted.
"We expect this discount to diminish as trading momentum continues, indebtedness reduces further and growth accelerates."
Berenberg argued that Currys' UK end-markets are poised for a more pronounced rebound in expenditure versus other non-food categories.
"We note that price-adjusted expenditure in UK small electrical appliances in 2023 was materially below the extrapolated 30-year growth trend post-2019, and further depressed versus other non-food categories.
"A partial reversion to trend growth in price-adjusted expenditure would deliver an improvement in revenue growth for Currys, in our view."
Watches of Switzerland also made strong gains, rising 7.25%.
Keller Group, Great Portland Estates Alliance Trust, and JPMorgan Global Growth & Income fell as they went ex-dividend
FTSE 250 - Risers
Currys (CURY) 77.30p 8.19% Watches of Switzerland Group (WOSG) 414.40p 7.25% Ithaca Energy (ITH) 135.10p 6.71% Foresight Group Holdings Limited NPV (FSG) 485.00p 6.36% Trainline (TRN) 321.60p 6.35% WH Smith (SMWH) 1,166.00p 6.00% Pets at Home Group (PETS) 293.80p 5.30% Petershill Partners (PHLL) 213.50p 5.17% Diversified Energy Company (DEC) 1,160.00p 5.07% Future (FUTR) 1,064.00p 3.91%
FTSE 250 - Fallers
PZ Cussons (PZC) 110.00p -3.85% Bank of Georgia Group (BGEO) 3,745.00p -2.47% Bytes Technology Group (BYIT) 570.00p -1.81% Keller Group (KLR) 1,328.00p -1.48% Auction Technology Group (ATG) 564.00p -1.40% Hargreaves Lansdown (HL.) 1,052.00p -1.31% TUI AG Reg Shs (DI) (TUI) 542.50p -1.27% PPHE Hotel Group Ltd (PPH) 1,310.00p -1.13% Great Portland Estates (GPE) 351.00p -1.13% JPMorgan Global Growth & Income (JGGI) 541.00p -1.10%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
