Market's view on Marks & Spencer
Published on April 2024
- Marks & Spencer shares were upgraded by multiple analysts including Jefferies, who raised their price target to 310p, citing a stronger business built on expansion of its food offering. JPMorgan also upgraded M&S to ‘Overweight’ with a new price target of 330p, noting significant market share gains post-pandemic.
- The retailer’s ‘Farm to Foodhall’ campaign in Ireland is in its second year, indicating continued focus on quality food sourcing.
- M&S has launched a £59 shirt dress similar to a designer style worn by Princess Kate, showing their focus on fashion that resonates with current trends.
- There are concerns about proposed employment rights reforms potentially affecting British business productivity.
- M&S aims to achieve Net Zero by 2040, committing to significant reductions in greenhouse emissions.
- Sainsbury’s reported about 9% grocery growth and is projecting £1 billion profits as its price match strategy against ALDI and LIDL shows results.
- Ocado emerged as the fastest growing grocery supermarket in the last 12 weeks, while ALDI lost some market share.
- There was a significant trading activity in Marks & Spencer’s stock, with a closing auction trading 3.5 million shares at 260.70p.