Marks & Spencer Group Price Target Cut to GBX 500 (MKS)
Research analysts at HSBC cut their target price on shares of Marks & Spencer Group (LON:MKS) from GBX 530 ($8.69) to GBX 500 ($8.20) in a report released on Tuesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. HSBC’s price target indicates a potential upside of 12.38% from the stock’s previous close.
Marks & Spencer Group (LON:MKS) traded up 0.86% on Tuesday, hitting GBX 444.90. The stock had a trading volume of 5,070,690 shares. Marks & Spencer Group has a one year low of GBX 351.60 and a one year high of GBX 520.50. The stock has a 50-day moving average of GBX 466.4 and a 200-day moving average of GBX 474.7. The company’s market cap is £7.162 billion.
Several other analysts have also recently commented on the stock. Analysts at Barclays reiterated an “underweight” rating on shares of Marks & Spencer Group in a research note to investors on Tuesday. They now have a GBX 350 ($5.74) price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “underperform” rating on shares of Marks & Spencer Group in a research note to investors on Monday. They now have a GBX 400 ($6.56) price target on the stock. Finally, analysts at Citigroup Inc. cut their price target on shares of Marks & Spencer Group from GBX 575 ($9.43) to GBX 510 ($8.36) in a research note to investors on Monday. They now have a “buy” rating on the stock. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 481.74 ($7.90).
Marks and Spencer Group plc is a United Kingdom retailer. The Company is the holding company of the Marks & Spencer Group of companies.
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