Societe Generale Initiates Coverage on WM Morrison Supermarkets (MRW)
Societe Generale began coverage on shares of WM Morrison Supermarkets (LON:MRW) in a research note issued on Friday, Stock Ratings Network reports. The firm set a “sell” rating and a GBX 200 ($3.30) price target on the stock. Societe Generale’s target price would suggest a potential downside of 20.76% from the stock’s previous close.
WM Morrison Supermarkets (LON:MRW) traded down 0.28% on Friday, hitting GBX 252.40. The stock had a trading volume of 14,537,072 shares. WM Morrison Supermarkets has a 52 week low of GBX 232.30 and a 52 week high of GBX 312.30. The stock’s 50-day moving average is GBX 257.9 and its 200-day moving average is GBX 276.4. The company’s market cap is £5.867 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “sell” rating on shares of WM Morrison Supermarkets in a research note to investors on Tuesday. They now have a GBX 200 ($3.30) price target on the stock. Separately, analysts at Cantor Fitzgerald Europe reiterated a “buy” rating on shares of WM Morrison Supermarkets in a research note to investors on Monday. They now have a GBX 330 ($5.44) price target on the stock. Finally, analysts at Santander cut their price target on shares of WM Morrison Supermarkets from GBX 300 ($4.94) to GBX 275 ($4.53) in a research note to investors on Friday, January 10th. They now have a “hold” rating on the stock. Fifteen research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of GBX 259.78 ($4.28).
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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