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Broker snap: JJB Sports
27p -9.25p Broker says SELL
SPORTSWEAR retailer JJB Sports was on the back foot after broker Altium Securities cut its price target.
Altium, which maintained it "sell" recommendation, has trimmed its price target from 35p to 27p.
The move follows news that Coface, the UK's largest credit insurer, is to stop providing cover for JJB's suppliers. The decision by Coface is likely to hit JJB's margins, as suppliers demand more generous terms.
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Saturday 26 May 2012
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