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Investing.com - RBC Capital downgraded Currys Plc (LON:CURY) from Outperform to Sector Perform on Monday, while maintaining a price target of GBP1.40.
The research firm cited the electronics retailer’s now "fairer" valuation as the primary reason for the rating change, and removed its Speculative Risk qualifier from the stock.
RBC Capital acknowledged that Currys has made significant efforts to enhance its offerings in both the UK and Nordic markets, strengthening its competitive position.
The firm also highlighted Currys’ improved balance sheet and the likelihood of lower pension contributions, which should enable the company to increase cash returns to shareholders in the future.
Despite these positive developments, RBC Capital expressed concerns about ongoing macroeconomic risks that could impact the retailer’s performance, contributing to the more cautious stance on the stock.
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