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Marks & Spencer Group (MKS)

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Down 157.90p
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JP Morgan reiterates 'underweight' on Marks & Spencer, criticises choice of strategy

23 May 19

LONDON (ShareCast) - (Sharecast News) - Analysts at JP Morgan labelled Marks & Spencer's from the day before "relatively uninspiring", criticising the group's choice of strategy in a challenging market for retailers and reiterating their recommendation to 'underweight' the company's stock.
They conceded that setting the foundations for a turnaround takes time, but there was "minimal tangible evidence of progress" in the latest set of financials from the company.

Combined with the "very fast" pace of change in the sector, the investment bank said it struggled "to become more constructive".

"Furthermore, we remain sceptical that the group's strategy to appeal to a more family-based customer is the right one," they said.

"Instead we think it places MKS increasingly closer to the structurally challenged "squeezed middle"."

JP Morgan stuck to its 250p target price for the company's shares.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 157.90p
Change Today -14.05p
52 Week High 277.46p
52 Week Low 157.30p
Volume 5,678,875
Shares Issued 1,950.06m
Market Cap 3,079.14m


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