Grupo Santander Downgrades Wm. Morrison Supermarkets plc to Underweight (MRW)
Wm. Morrison Supermarkets plc (LON:MRW) was downgraded by equities researchers at Grupo Santander to an “underweight” rating in a research report issued on Thursday. They currently have a GBX 170 ($2.82) price objective on the stock. Grupo Santander’s price objective suggests a potential downside of 3.02% from the stock’s previous close.
Shares of Wm. Morrison Supermarkets plc (LON:MRW) opened at 173.70 on Thursday. Wm. Morrison Supermarkets plc has a 1-year low of GBX 164.60 and a 1-year high of GBX 312.30. The stock has a 50-day moving average of GBX 173.7 and a 200-day moving average of GBX 196.2. The company’s market cap is £4.053 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Santander downgraded shares of Wm. Morrison Supermarkets plc to an “underweight” rating in a research note on Thursday. They now have a GBX 170 ($2.82) price target on the stock, down previously from GBX 220 ($3.65). Separately, analysts at Jefferies Group cut their price target on shares of Wm. Morrison Supermarkets plc from GBX 250 ($4.15) to GBX 225 ($3.73) in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Wm. Morrison Supermarkets plc in a research note on Friday, August 29th. They now have a GBX 180 ($2.99) price target on the stock. Fourteen equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Wm. Morrison Supermarkets plc currently has an average rating of “Hold” and a consensus price target of GBX 195.05 ($3.24).
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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