Jefferies downgrades DFS Furniture to 'hold', slashes price target

(Sharecast News) - Jefferies downgraded DFS Furniture on Thursday to 'hold' from 'buy' and cut the price target to 156p from 210p saying it was "awaiting the inflection". The bank said strong execution helped DFS to deliver another year of material profit recovery in FY26, despite an increasingly difficult market backdrop.

"However, with order intake remaining negative and consensus already assuming an inflection, we think the risk/reward profile has shifted lower," it said.

It added that the valuation is less compelling once adjusted for cash rent.

At 1320 BST, the shares were down 3% at 141.50p.