Halfords Group (LON:HFD) Rating Increased to Buy at Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded Halfords to a "buy", raising its target from GBX 156 to GBX 170, which implies about a 13.33% upside from the prior close.
• Shares opened at GBX 150 (up ~3% on the news) with 50‑day and 200‑day moving averages of GBX 136.75 and GBX 141.45, and a 12‑month range of GBX 123.80–177.
• Key financials: market capitalization £326.82m, a negative P/E of -9.74, current ratio 0.84, quick ratio 0.41 and debt‑to‑equity of 50.72, signaling leverage and tight short‑term liquidity despite the upgrade.

Halfords Group (LON:HFD - Get Free Report) was upgraded by Canaccord Genuity Group to a "buy" rating in a research note issued on Friday,Digital Look reports. The brokerage currently has a GBX 170 target price on the stock, up from their prior target price of GBX 156. Canaccord Genuity Group's price target suggests a potential upside of 13.33% from the company's previous close.

Halfords Group Stock Up 3.0%

Shares of LON HFD opened at GBX 150 on Friday. The firm's 50-day moving average price is GBX 136.75 and its 200-day moving average price is GBX 141.45. The company has a current ratio of 0.84, a quick ratio of 0.41 and a debt-to-equity ratio of 50.72. The stock has a market capitalization of £326.82 million, a price-to-earnings ratio of -9.74, a P/E/G ratio of 2.80 and a beta of 1.15. Halfords Group has a 12-month low of GBX 123.80 and a 12-month high of GBX 177.

About Halfords Group

HALFORDS IS THE UK'S LEADING PROVIDER OF MOTORING AND CYCLING PRODUCTS AND SERVICES. Through Halfords Autocentres, it is also one of the UK's leading independent operators in vehicle, servicing, maintenance and repairs. We are a market-leading business, with unique and differentiated products and services. Our unique mix of stores, garages, mobile vans and home delivery means we can offer customers unparalleled convenience in the motoring and cycling markets... ...We know that our customers want us to be there for them, when they need us.

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