Canaccord Genuity bumps up target price on Wickes

(Sharecast News) - Canaccord Genuity bumped up its target price on home improvement retailer Wickes from 250p to 265p on Thursday after the firm delivered "a strong FY25" performance. The Canadian bank said Wickes' solid FY results were driven by volume growth, market share gains and disciplined execution, with improved profitability and a "robust" balance sheet supporting investment and shareholder returns.

Operationally, Canaccord Genuity noted that Wickes had made further progress, expanding and upgrading its store estate, "improving service propositions and enhancing digital capabilities", with its TradePro offering continuing to grow and underpin volumes.

Canaccord also pointed out that Wickes' management has increased its long-term ambition to around 300 stores from the previous 250 target, building on the "proven performance" of both existing and newer formats.

"Trading at the start of FY26 has been resilient, management remains comfortable with current market expectations for the year ahead and we leave our headline FY26 PBT forecast unchanged at £57.0m (+14% y/y)," added Canaccord.









Reporting by Iain Gilbert at Sharecast.com