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Dixons Carphone & Saga - double buy update

By Chris Bailey | Thursday 21 June 2018

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

You could have made a bit of money off my January reiteration that Dixons Carphone (DC.) was too cheap. The shares have pulled back from a slightly frothy 240p and are now trading just below the 200p level which is really building into a big resistance/support level. Today's numbers complicate matters a little more, with a second attempt by the new CEO to ensure he is starting the job at a suitably depressed profits outlook level by pulling down hopes for the next twelve months to just £300 million pre-tax profit versus not far shy of £400 million in the year just completed and over £500 million for the year before that.

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