Electrical giant Dixons Carphone (LON:DC) fell over 8 percent in early trading on Friday, after a downgrade on its stock from Exane BNP Paribas.
The group moved Dixons Carphone to an “underperform” rating after the retailer issued a near-term caution on profit. Exane BNP Paribas also said it was concerned about the mobile arm of the group in the long term.
“With consensus, sentiment and forecast too optimistic in the face of macro headwinds, positive catalysts are hard to find,” the broker said.
The downgrade comes just two months after Dixons reported a record pre-tax profit in a “challenging” market.
Shares are currently trading down 8.48 percent at 243.18 (0951GMT).