Currys - yet another five-year High at 159.90p, SQC Target Price of 190p

Mark Watson-Mitchell - 24.02.2026

In the first couple of hours of trading this morning, some 1,600,734 shares have changed hands in the UK's favourite electrical retail group Currys (LON:CURY) against the daily average of 3,843,619 dealing volume.

They have touched 159.90p and continue to hold massive investor appeal, especially as the £1.67bn-capitalised group holds a Capital Market Event tomorrow, taking investors for a tour of its Supply Chain and Service Operations in Newark.

And two weeks after that, on Tuesday 10th March, another similar investor event will take place when the group's CEO, Alex Baldock, guides them on a store tour and talk in Reading.

The Business

Currys is a leading omnichannel retailer of technology products and services, operating online and through 702 stores in 6 countries. 

In the UK & Ireland, it trades as Currys, and in the UK, it operates its own mobile virtual network, iD Mobile.

In the Nordics, it trades under the Elkjøp brand.

The group is the market leader in all markets, able to serve all households and employing more than 25,000 capable and committed colleagues.

Its operations include one of Europe's largest technology repair facilities, a sourcing office in Hong Kong and an extensive distribution network, centred on Newark in the UK and Jönköping in Sweden, enabling fast and efficient delivery to stores and homes.

Broker Views

Analysts Wayne Brown, Ben Hunt and Anubhav Malhotra, at Panmure Liberum, rate the group’s shares as a Buy, with a 200p Target Price.

They state that:

"Currys is leveraging its substantial market share - dominant in several categories - to reinforce its competitive advantages and build durable moats around its operating and business model.

Apex data shows that Currys continues to take share from Argos and widen the gap between itself and peers across the board.

After strengthening its balance sheet over recent years, the company is now using its scale to diversify into product areas aligned with the next wave of technological advancement.

This expansion increases its total addressable market by 33% (around £12bn) and provides far greater visibility on revenue opportunities that simply did not exist a few years ago.

Combined with a significantly stickier customer base - 33% of UK&I revenue is now recurring - the business has evolved well beyond its historic reliance on selling TVs and washing machines. Crucially,

Currys delivers this through a low-cost operating model that enables strong incremental margin flow-through.

Taken together, these factors point to many years of potential upside as multiple growth levers are activated.

The resulting upside scenario should appeal to anyone seeking earnings momentum and sustained multi-year growth at <10x PE."

My View

I continue to be a big fan of this group and consider that the efforts of its Management to rebuild its fortunes from a sound base are beginning to show through, and its shares at 159.90p, offer investors some significant upside.

I stick confidently to my recently set new Target Price of 190p.

(Profile 10.07.23 @ 49p set a Target Price of 61p*)

(Profile 18.12.23 @ 50.05p set a Target Price range of 61p-65p*)

(Profile 21.01.26 @ 125.40p set a Target Price at 155p*)

(Profile 19.02.26 @ 155.90p set a Target Price of 190p)