Kepler Cheuvreux starts Marks & Spencer at ‘buy’
Marks & Spencer Group
390.50p
16:35 03/01/25
0.31%
1.20p
Kepler Cheuvreux initiated coverage of Marks & Spencer on Tuesday with ‘buy’ rating and 467p price target.
Food & Drug Retailers
4,478.68
16:54 03/01/25
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16:59 03/01/25
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16:54 03/01/25
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FTSE All-Share
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17:14 03/01/25
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"M&S’s share price has rallied spectacularly over the past two years," it said. However, the valuation multiples have risen little relative to its peers, Kepler said.
"Benefiting from high-quality management, we believe that M&S should continue to offer positive momentum in its two businesses, enabling the steady growth that sets it apart in the UK retail sector."