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Wolseley upgraded by Liberum

16 June 2017 15:29

Liberum Capital has upgraded its rating on Wolseley (LON:WOS) to buy from hold as the plumbing and heating supplies distributor "becomes more refined", reducing its European exposure and focusses more on the US.

The broker added: "US growth is likely to step up as headwinds fade. It is likely to restart capital returns with the proceeds of the Nordics sale."

Analysts have upped their target price to £53 per share (from £49.75).

At 3:29pm: (LON:WOS) Wolseley PLC share price was +15p at 4774p

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