Deutsche Bank upgrades Wickes to 'hold' from 'sell'
By Michele Maatouk
Date: Friday 18 Sep 2026
(Sharecast News) - Deutsche Bank upgraded Wickes on Friday to 'hold' from 'sell' and lifted the price target to 210p from 165p, saying it believes the downside risk to earnings is mitigated by better current trading and a growing pipeline of projects.
"Weaker big ticket demand remains a cyclical headwind, while rising inflation is unhelpful for consumer confidence," the bank said. "However, we like the Wickes business model, management team and value-focused brand positioning. We therefore anticipate further share gains within a tough market."
Deutsche said guidance implies around 20% pre-tax profit growth in the second half, but this is supported by better like-for-like sales and further cost savings.
DB noted the shares are down 18% year-to-date and trade on 10.8x estimated Cal26 price-to-earnings, compared to B&Q owner Kingfisher on 11.4x.
At 1422 BST, the shares were up 2% at 196.60p.
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