Broker Recommendations
Barclays downgrades JD Sports on Hibbett acquisition
By Michele Maatouk
Date: Monday 29 Apr 2024
(Sharecast News) - Barclays downgraded JD Sports on Monday to 'equalweight' from 'overweight' and cut the price target to 140p from 165p after the retailer announced the acquisition of US rival Hibbett last week for $1.1bn.
JD Sports said it would pay $87.50 a share in cash for Hibbett stock.
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