Its come along way since these were a pair of old boots,just bought today mid 280s,spent a few pounds in there of late,so why not!

Stop to 398.7 to lock in 31

New 1 year high earlier @409p.

That'll do for now, out the spreads @405.5 + 37.8

Nice one Chris.

Cheers skinny.

Citigroup Buy 395.70 395.70 325.00 465.00 Upgrades

Noticed NT went short @ 409 target 350 stop 420 interesting to see who will be right :O)

Halfords upgraded by Citigroup
20th September 2013, 09:09

Citi’s analysts appear to be seeing some sense behind Halfords [LON:HFD] strategic changes, such as focusing on the more profitable areas such as car maintenance and cycling, and now believe the company is on track to deliver growth, albeit recognising that internal targets are focused on 2016 and beyond.

The broker has therefore increased its price target to 465 pence a share (from 325 pence) and upgraded its recommendation to ‘buy’ from ‘hold’.

“We have previously been Neutral on this stock as we believe that some of Halfords’ core categories are not sources of growth and that it will take time, capital expenditure and operating cost investments in order to overcome Halfords’ structural issues,” the broker said.

“These investments were announced at the strategic update in May. It is now clear that Halfords aim is to concentrate on growing Car Maintenance and Cycling categories, focusing on the highly profitable service element of the customer proposition.”

Of course, not all brokerage houses agree and it should come as no great surprise to note that only 31 per cent of brokers rate the shares as a ‘buy’, while 46 per cent rate them as a ‘hold’ and 23 per cent as a ‘sell’, according to Broker Forecasts consensus data.

I dont know how Halfords makes its money. Every time I go into one of several near me there is hardly anyone in. Do they make most of their money on line?. If so then they could save a fortune by closing low performing branches.

Neutral 396.80 399.50 400.00 400.00 Reiterates

Oh shit limit short triggered on the spreads @ 396.0 (Dec) dangerous play leading up to results.

Still above 50DMA, so short not a done deal just yet?

Looks like a bearish engulfing candle......

Stop to entry for risk free trade.

Stop to 386.0 to lock in + 10

Out for now @ 377.0 + 21

Half Yearly Report

Key Points For The Half:
· Strong Q1 for Retail followed by +6.6% LFL growth in Q2 despite the tough prior-year comparator
· Focus areas of Cycling and Car Maintenance performed particularly well
· Retail management team strengthened, including the addition of Emma Fox as Commercial Director
· The Getting Into Gear programme in Retail progressing well, including: the launch of new recruitment process and colleague training programme, a new Halfords.com website and a number of store refurbishments
· Autocentres performance driven by both market and operational challenges; new Autocentres CEO to be appointed
· Interim dividend of 5.2 pence per share, in line with prior guidance

JP Morgan Cazenove Overweight 0.00 405.00 440.00 Reiterates

N+1 Singer Buy 0.00 - 540.00 Retains

Buy Halfords, the Sunday Telegraph’s Questor column advised. The shares jumped almost 15% when the car maintenance and bikes group beat profit forecasts but there could be further to go in its retail revival. The post-Olympic cycling boom and warm summer prompted more cycle sales than expected and Halfords is overhauling its stores and marketing to tap into cities’ push to improve infrastructure for those on two wheels. Questor said buy at 303.5p in October 2012 and, with the group’s revival taking hold, it repeated the advice with the shares currently trading at 476.5p.


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