Marks & Spencer: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse reiterates its 'outperform' rating on Marks & Spencer shares, increasing its target price for them to 200p (from 150p), after increasing its 2023 EPS estimates by 3.
2%, followed by 8.6% for 2024.
"As the turnaround builds momentum, we believe M&S offers leverage to both a UK consumer recovery and lower food price inflation over the next year," the broker says.
Credit Suisse also says it is "increasingly optimistic about UK margin recovery over the next three years and expect M&S to return to at least pre-COVID profitability".
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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.
2%, followed by 8.6% for 2024.
"As the turnaround builds momentum, we believe M&S offers leverage to both a UK consumer recovery and lower food price inflation over the next year," the broker says.
Credit Suisse also says it is "increasingly optimistic about UK margin recovery over the next three years and expect M&S to return to at least pre-COVID profitability".
Copyright (c) 2023 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.