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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: 258.30
Bid: 258.30
Ask: 258.50
Change: 3.70 (1.45%)
Spread: 0.20 (0.077%)
Open: 254.60
High: 259.20
Low: 254.60
Prev. Close: 254.60
MKS Live PriceLast checked at -

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Broker tips: M&S, Burberry, Ashstead

Wed, 06th Apr 2011 12:49

Peel Hunt upgrades retailing giant Marks & Spencer (M&S) to 'hold', from 'sell', after strong fourth quarter results beat market expectations in both divisions."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.Nomura keeps its 'neutral' rating on luxury brand Burberry, as it thinks that strong momentum is already priced into the shares.The Japanese broker expects the trading update on 19 April to show a 36% increase in second half retail sales and a 4% rise in wholesale sales, "slower than the third quarter given timing of deliveries," the broker said.The broker says that Burberry continues to deliver on all points of its strategy and anticipates the update to mark a "great close to a vintage year." However, with strong growth already assumed, Nomura keep its target price of 1,200p.Panmure Gordon upgrades forecasts at Ashstead Group, saying that the plant hire group has weathered the storm of the low point in the cycle much better than expected.The broker increases its profit and earnings per share forecasts for the year ending April 2012 by 14.1% and 17.9%, respectively, as a result of a combination of increased margin expectations and lower interest assumptions.A 'buy' is retained and the target price is upped from 221p to 235p.---bc
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