MARKET TALK: Liberum Cuts Kingfisher To Neutral

23rd Jul 2010 07:22

0622 GMT [Dow Jones] Liberum Capital cuts Kingfisher (KGF.LN) to neutral from buy and its target price to 240p from 275p. The broker said it fears that the company's UK project spend will continue to weaken over the next 12 months and that this could be reflected in other markets. "We see evidence of this in our consumer survey data on home improvements, willingness to move and UK planning applications," it said. Shares closed Thursday at 225p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 02:22 ET (06:22 GMT)