Marks & Spencer: UBS still on hold
(CercleFinance.com) - Following the company's results, UBS reiterates its neutral rating on the stock with a target price of 250p.
In short it says that M&S published FY 21/22 results that were generally below consensus and UBS expectations, with the good momentum of C&H more than offsetting the lower profitability of food and the smaller share of Ocado's results.
Marks & Spencer has reported adjusted EPS of 21.7p and adjusted taxable profit of 522.9 million pounds for FY 2021-22, up almost 30% on their respective levels two years ago.
Also compared to FY 2019-20, the UK department chain stores' revenue increased by 6.9% to almost 10.9 billion pounds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In short it says that M&S published FY 21/22 results that were generally below consensus and UBS expectations, with the good momentum of C&H more than offsetting the lower profitability of food and the smaller share of Ocado's results.
Marks & Spencer has reported adjusted EPS of 21.7p and adjusted taxable profit of 522.9 million pounds for FY 2021-22, up almost 30% on their respective levels two years ago.
Also compared to FY 2019-20, the UK department chain stores' revenue increased by 6.9% to almost 10.9 billion pounds.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.