(News Bulletin 247) – Credit Suisse reiterates its ‘outperforming’ opinion on Marks & Spencer with a price target raised from 150 to 200 pence, in the wake of EPS estimates increased by 3.2% for this year and 8 .6% for the next one.
‘As the recovery gains momentum, we believe M&S offers leverage for both a recovery in UK consumption and lower food price inflation over the next year’, says the broker.
Credit Suisse also says it is “increasingly optimistic about the recovery of UK margins over the next three years” and expects “M&S to return to at least pre-Covid profitability”.
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