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Prices & Quotes - UK Markets - JD Sports Fashion (JD.)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 880.20p
Change Today:
-35.80p
Market Cap:
9,080m
Sector:
General Retailers

JD Sports 'top pick' in consumer discretionary, says Berenberg

By Michele Maatouk

Date: Friday 09 Apr 2021

LONDON (ShareCast) - (Sharecast News) - JD Sports Fashion was sitting pretty at the top of the FTSE 100 on Friday as Berenberg said it was its "top pick" in consumer discretionary.
The bank, which reiterated its 'buy' rating and 1,100p price target on the stock, said the retailer demonstrated a "remarkable" recovery last year, significantly outperforming sports retail and brand peers, further demonstrating the strength and resilience of its brand and proposition.

"However, despite being perceived as a 'lockdown winner', it has not traded like one and with the shares remaining flat versus pre-pandemic levels, it has not traded like a 'vaccine winner' either," Berenberg said.

"This is very surprising, since we would argue JD is best positioned for a strong and fast recovery given its regional mix and growing evidence of accelerating consumer demand for 'sneakers'." It said the spending power and intent of JD's core "sneakerhead" consumer is still misunderstood by investors.

The bank said its indicators and peer read-across suggest consumer demand has accelerated further in 2021. In the US, which makes up about 35% of sales, it expects government stimulus to provide another big boost to spending. In the UK, which accounts for around 40% of sales, it expects strong pent-up demand on reopening.

It noted that these are the two markets where the vaccination programmes are most advanced. JD is hugely underestimated as a reopening trade and there is significant upside risk to consensus forecasts from pent-up demand and attractive M&A optionality, Berenberg said.

"JD looks cheap, in our view, for its quality and growth, offering a faster-growing and more diversified alternative to owning the sports brands, at a 40% discount."

At 1225 BST, the shares were up 3.2% at 900.45p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

JD. Market Data

Currency UK Pounds
Price 880.20p
Change Today -35.80p
52 Week High 940.80p
52 Week Low 520.00p
Volume 1,375,885
Shares Issued 1,031.63m
Market Cap 9,080m
Beta 0.02

Performance Indicators

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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 13
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JD. Dividends

  Latest Previous
  Final Interim
Ex-Div 24-Jun-21 28-Nov-19
Paid 02-Aug-21 03-Jan-20
Amount 1.44p 0.28p

Trades for 11-May-2021

Time Volume / Share Price
16:35 420,687 @ 880.20p
16:29 1,129 @ 879.65p
16:29 7 @ 879.20p
16:29 3 @ 879.20p
16:29 11 @ 879.20p

JD. Key Personnel

CFO Neil Greenhalgh