Citigroup Inc. Downgrades WM Morrison Supermarkets to Neutral (MRW)
WM Morrison Supermarkets (LON:MRW) was downgraded by research analysts at Citigroup Inc. to a “neutral” rating in a report released on Friday, Stock Ratings Network reports. They currently have a GBX 250 ($4.10) price target on the stock, down from their previous price target of GBX 280 ($4.59). Citigroup Inc.’s price objective indicates a potential upside of 5.89% from the company’s current price.
WM Morrison Supermarkets (LON:MRW) opened at 236.10 on Friday. WM Morrison Supermarkets has a 52-week low of GBX 232.25 and a 52-week high of GBX 312.30. The stock’s 50-day moving average is GBX 259.9 and its 200-day moving average is GBX 276.7. The company’s market cap is £5.488 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Beaufort Securities downgraded shares of WM Morrison Supermarkets to a “sell” rating in a research note to investors on Friday. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of WM Morrison Supermarkets in a research note to investors on Thursday. They now have a GBX 310 ($5.08) price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of WM Morrison Supermarkets in a research note to investors on Tuesday. They now have a GBX 270 ($4.43) price target on the stock. Fifteen investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. WM Morrison Supermarkets presently has a consensus rating of “Hold” and a consensus price target of GBX 263.21 ($4.32).
Wm Morrison Supermarkets PLC is a food retailer. As of January 29, 2012, the Company had 475 stores across Britain, ranging in size from 3,000 to over 40,000 square feet.
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