Merrion selects Kingfisher as pick of the week
Published: 04 November, 2011
DUBLIN: Irish financial services firm Merrion has picked Kingfisher for its stock of the week.
In an article in the Irish Independent Merrion said that B&Q owner Kingfisher was "the clear leading European home improvement retailer with scale advantage and geographical diversification".
Given the self-help opportunities in the UK, double-digit earnings growth property backing, scope for margin expansion and the longer-term prospects of a cyclical recovery in UK DIY, the shares look undervalued, added Merrion.