Jefferies downgrades its recommendation on Kingfisher from 'buy' to 'hold', with a price target reduced from 330 to 210 pence, expecting 'difficulties in France and persistent macroeconomic headwinds to weigh on its growth'.

UK retailing and the Polish business are benefiting from headwinds from store growth, but overall we only expect EPS growth of around +6% for 2025, on a low 2024 base', adds the broker.

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