M&S Sheds Label of Analysts’ Least-Favored U.K. Retailer 



(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.

Marks and Spencer Group Plc (LON:) is no longer analysts’ least favorite British retailer.

RBC’s move to outperform on Tuesday — the third broker upgrade in less than a week — means that based on a score of consensus recommendations, M&S has pulled clear of Sports Direct (LON:) International Plc, with whom it had shared the joint lowest-ranking in the General Retailers index. The consensus — a proxy for the ratio of buy, hold and sell ratings — is now 2.58, the highest since July 2018.

RBC’s bullishness stems from M&S’s “price investment in high volume lines, less confusing promotional activity and stronger new innovation pipeline,” analyst Richard Chamberlain wrote in a note.

His move follows recent upgrades by Goldman Sachs (NYSE:), which cited improving customer opinions on the company’s womenswear range, and JPMorgan (NYSE:). Plenty remain skeptical, however, with a downgrade by Morningstar on Monday meaning the London-based clothing and food retailer still only has four buy ratings among 24 analysts.

After a year in which M&S fell out of the and the share price is down 13% even after a recent rally, the upgrades at least provide investors with some positive signs moving into 2020.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Disney has a massive sale on large soft toys with a festive discount code

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here