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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: 262.90
Bid: 230.00
Ask: 294.00
Change: 0.00 (0.00%)
Spread: 64.00 (27.826%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 262.90
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Broker snap: M&S upgraded after strong fourth quarter

Wed, 06th Apr 2011 10:54

Peel Hunt upgrades retailing giant Marks & Spencer (M&S) to 'hold', from 'sell', after strong fourth quarter results beat market expectations in both divisions.General Merchandise sales fell by 3.9% on a like-for-like (LfL) basis, while the broker had expected a 5.5% decline (consensus: -6%). Sales were affected by the timing of Easter and the early start of the Christmas sales, according to the broker.Food LfL sales rose 3.4%, ahead of Peel Hunt/consensus estimates of a 1.3% increase, as the group "continued to drive a high level of newness and product innovation, with circa 25% of the range introduced in the past 12 months," said analyst John Stevenson."We see limited downside at this juncture - clearly there is a tough consumer backdrop environment for the year ahead - however, M&S also appears to be on track to hold its profit position by driving gross margin delivery and space growth," he said.The target price of 325p is held.---bc
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Jefferies upgrades M&S, Next and Sainsbury's to 'buy'

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16 Apr 2024 08:38

UK discounter B&M expects full-year profit at top end of guidance

2023/24 revenue up 10.1% to 5.5 bln stg

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London close: Stocks finish lower as ECB stands pat

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JPMorgan upgrades Marks & Spencer to 'overweight'

(Sharecast News) - JPMorgan Cazenove upgraded Marks & Spencer on Thursday to 'overweight' from 'neutral' and lifted the price target to 330p from 260p as it took a look at European general retail.

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