Raising HWDN to 960p, RBC cites Howden Joinery’s DIY Kitchens deal, depot expansion (aiming ~1,000 after ~25 UK openings this year) and margin gains from price hikes and volumes—backing upgraded FY26 sales of £1.043bn and pre-tax profit of £120m.
Previous Week Recap
- RBC Raises HWDN Target: RBC raised Howden Joinery (HWDN) target to 960p after adding DIY Kitchens, nudged FY26–28 EPS up, forecasts FY26 sales £1.043bn and pre-tax profit £120m; cites depot expansion as growth driver
- HWDN Plans 25 UK Depots: Howden Joinery (HWDN) plans ~25 UK depot openings this year, currently 893 UK and 82 overseas depots, targets ~1,000 long-term; cites DIY Kitchens deal as incremental support.
- HWDN Margin Up, Investments: Howden Joinery (HWDN) saw gross margin rise from early price hikes and higher volumes, booked £19m productivity savings, and spent £9m on depots, product and digital investments.
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