Share prices at Dunelm have increased after analyst firm Peel Hunt raised its recommendation to ‘buy’.
The shares grew by 14% yesterday after Peel Hunt raised its target price to 750p, which is well above the current 618.5p.
“After a series of downgrades driven largely by the acquisition of Worldstores and the integration process, Dunelm is sharpening up its act under new chief executive Nick Wilkinson and focusing on the core values that made the business so successful in the first place,” Peel Hunt said.
In the 13 weeks to September 29, Dunelm reported like-for-like sales growth of 4.2%, including a 1.3% rise in in-store sales and a 33% increase in online sales.
