Shares in Halfords (HFD.L) have fallen dramatically from recent highs of 217p. Will it continue, or is this an opportunity to pick up a bargain?

• Now trading at 149p (at time of writing). A return to previous highs would represent a rise of 45%.
• The market often over-reacts to bad news. Traders should consider whether it is down for good reason, or is this another over-reaction?
• Shares -42% from 12-month highs; +-1% from 12 month lows.

Latest News

08 Nov:  JP Morgan Cazenove reiterates its neutral rating on Halfords Group (HFD) and reduced the target price to 170p (from 210p).

04 Sep:  Peel Hunt reiterates its sell rating on Halfords Group (HFD) and reduced the target price to 150p (from 200p).

04 Sep:  Halfords, the retailer, reported lower than anticipated sales, affected by poor summer weather and weak consumer confidence.

28 May:  Berenberg reiterates its hold rating on Halfords Group (HFD) and reduced the target price to 230p (from 260p).

22 May:  JP Morgan Cazenove reiterates its neutral rating on Halfords Group (HFD) and reduced the target price to 260p (from 290p).

21 May:  Halfords announced that annual pre-tax profits declined by nearly 25% as weaker consumer confidence and poor summer weather dented sales.

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

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