Marks & Spencer: stock jumps with broker saying 'buy' again

(CercleFinance.com) - A Liberum analyst today says that he is adopting a buy rating on the Marks & Spencer share once again, after previously putting this recommendation "under review".


"Des liquidités suffisantes, une entreprise de produits alimentaires et de produits Vêtements & Maison axés sur les 'essentiels' devraient permettre à M&S de sortir de la pandémie de COVID-19 dans une meilleure forme que les autres détaillants de vêtements", indique le broker.

"Adequate liquidity, a trading food business and an “essentials” focused Clothing & Home that is 'mothballable' should allow M&S to come out of the COVID-19 pandemic in a better shape than other apparel retailers," the broker says.

Even so, Liberum is leaving its target price under review.

The market has seemed less hesitant before jumping on the band wagon however: the Marks & Spencer share has jumped 9% in London on Wednesday, after the department store chain's annual results, which included adjusted EPS that is down 29.5% to 16.7 pence, albeit in line with the consensus.


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