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Inchcape PLC (INCH)

ORD 10P
Sell: 660.00p|Buy: 662.50p|Change: 2.00 (-0.30%)

This share can be held in a Dealing accountStocks and shares ISALifetime ISAJISASIPPand can be used with Regular investment and Dividend reinvestment

BROKER NOTES: Deutsche cuts Inchcape to hold after slow start to 2025

Inchcape PLC - London-based car dealership chain - Deutsche Bank Research cuts to 'hold' (buy) - price target 800 (1,000) pence

Analyst David Brockton reduces Deutsche's price target on Inchcape shares and cuts its recommendation to 'hold' following the company's trading update on Thursday. Inchcape said revenue fell by 5% at constant currency to GBP2.1 billion in the first quarter. New vehicle volumes were down 3%. The decline in revenue reflected mixed market momentum and tough comparators, Inchcape said, with headwinds persisting in Asia-Pacific. Brockton notes that GBP2.1 billion is 22% of Deutsche's forecast revenue for all of 2025, compared to 25% of the annual total achieved in the first quarter last year, as Inchcape indicates that product cycles and new contracts will skew growth to the second half of the year.

Current stock price: 659.64p, up 2.3% in London on Friday, having fallen 6.5% on Thursday

12-month change: down 16%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

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