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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: 302.00
Bid: 301.90
Ask: 302.10
Change: -1.90 (-0.63%)
Spread: 0.20 (0.066%)
Open: 303.00
High: 303.90
Low: 300.90
Prev. Close: 303.90
MKS Live PriceLast checked at -

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Ocado surges as Deutsche Bank hints at possible buyout by M&S

Fri, 19th Nov 2021 08:08

(Sharecast News) - Ocado surged to the top of the FTSE 100 on Friday as Deutsche Bank hinted at a possible buyout by Marks & Spencer.
In a research note on M&S, in which Deutsche lifted its price target on the buy-rated shares to 265p from 195p, it said: "Cash flow is no longer being squandered on an unsustainable dividend but saved to recover the investment grade credit rating that may be required to buy out Ocado."

M&S and Ocado became joint owners of Ocado Retail in August 2019. Marks paid Ocado £750m for a 50% share of the JV, which began trading in September 2020, when Ocado's partnership with Waitrose ran out.

At 0910 GMT, Ocado shares were up 5.6% at 1,874.50p.

Neil Wilson, chief market analyst at Markets.com, said: "It could happen, seems like a natural evolution to ultimately split the two businesses once the international deals actually start delivering some free cash."
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