DFS downgraded by bank
DFS has seen its share price target significantly lowered by an investment bank following its recent profit warning.
Berenberg Bank had a target of £3.10 but has lowered it to £2.45.
Despite the decrease, the rating is still substantially above this morning’s opening price of £2.06, valuing the chain at £435m.
When it issued the profits warning on 15 June its share price fell from £2.52 to £2.