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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
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Share Price: 298.00
Bid: 298.00
Ask: 298.20
Change: -5.30 (-1.75%)
Spread: 0.20 (0.067%)
Open: 302.40
High: 304.40
Low: 297.00
Prev. Close: 303.30
MKS Live PriceLast checked at -

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Broker snap: Exane upgrades M&S on turnaround hopes

Thu, 23rd Jan 2014 14:20

The share price of High Street giant Marks & Spencer (M&S) received a boost on Thursday after Exane BNP Paribas upgraded the stock by two notches from 'underperform' to 'outperform', expressing confidence in the retailer's turnaround. With the stock's valuation near 10-year lows, the broker said that "now is the time to look beyond recent troubles" as it lifted its target price by 46% from 390p to 570p.Analysts said that the group has experienced three years of difficult trading and pro?t declines with margins having fallen to their lowest in a decade."Store re?ts and product revolutions have proven to be false dawns. In a fast-changing retail environment M&S has suffered from a last mover disadvantage and legacy of under-investment," Exane said.However, the broker said that "this is changing": "Life beyond recent investments is in sight".Analysts explained that the company's eCommerce solution will be launched within a year and supply chain improvements are expected to go live. Meanwhile, growth in Food and overseas should also result in a strong uplift to profitability. "M&S is striking at the heart of recent difficulties."The broker said these changes could drive a reversal in recent negative earnings momentum with profit expected to jump 40% over the next three years.The stock was trading 2.16% higher at 491.3p by 14:54 on Thursday.BC
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Sustainable Switch: H&M investigates Myanmar factories

Aug 17 - By Sharon Kimathi Energy and ESG Editor, Reuters Digital sharon.kimathi@thomsonreuters.com

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H&M probes alleged Myanmar factory abuses as pressure intensifies

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16 Aug 2023 08:55

H&M probes Myanmar factory abuses as pressure intensifies

Cases of worker abuses at garment factories soar -report

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16 Aug 2023 06:00

H&M probes Myanmar factory abuses as pressure intensifies

Cases of worker abuses at garment factories soar -report

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15 Aug 2023 17:21

FTSE 100 hits one-month low as record UK wage growth drives pound higher

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