We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Berenberg says 'buy the dip' on 'top pick' Currys

Mon 17 March 2025 12:39 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Berenberg recommended on Monday that investors 'buy the dip' in Currys, as it hailed the electricals retailer as a "top pick" for 2025.

The bank said Currys' recent 15% share price fall means that it now sits around 45% below pre-Covid levels, and at similar levels to March 2020, when the pandemic first struck.

"This is despite a much stronger financial position, the run of recent upgrades and an increasingly optimistic outlook driven by self-help and structural tailwinds," it said.

"The circa 8.5x price-to-earnings gives little credit for any earnings upside and is a 48% discount to peers."

Berenberg said one can argue that the combined value of Currys' services revenue - around 700m of recurring, higher-margin, cash-generative sales - and its iD Mobile network is worth more than the current entire group market cap.

The bank said it expects its unchanged discounted cash flow-based target price of 125p to prove prudent over the medium term.

Berenberg rates Currys at 'buy'.

At 1330 GMT, the shares were up 1.5% at 87.45p.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.


    More stockbroker tips from ShareCast

    Latest economy and stock market articles