Deutsche Bank AG Lowers Marks and Spencer Group Plc (MKS) Price Target to GBX 345
Marks and Spencer Group Plc (LON:MKS) had its price objective dropped by Deutsche Bank AG from GBX 360 ($4.65) to GBX 345 ($4.46) in a research note issued on Friday. The brokerage currently has a “hold” rating on the retailer’s stock. Deutsche Bank AG’s price target would suggest a potential upside of 7.38% from the stock’s previous close.
Several other equities analysts have also recently weighed in on the stock. Barclays PLC lowered their price objective on shares of Marks and Spencer Group Plc from GBX 425 ($5.49) to GBX 370 ($4.78) and set an “overweight” rating on the stock in a research report on Friday, September 1st. Credit Suisse Group reiterated a “neutral” rating and set a GBX 370 ($4.78) price objective on shares of Marks and Spencer Group Plc in a research report on Friday, September 1st. HSBC Holdings plc reiterated a “buy” rating and set a GBX 435 ($5.62) price objective on shares of Marks and Spencer Group Plc in a research report on Thursday, July 27th. J P Morgan Chase & Co restated an “underweight” rating and set a GBX 285 ($3.68) price target on shares of Marks and Spencer Group Plc in a report on Wednesday, July 12th. Finally, Societe Generale cut shares of Marks and Spencer Group Plc to a “sell” rating and lowered their price target for the company from GBX 376 ($4.86) to GBX 301 ($3.89) in a report on Wednesday, July 12th. Nine investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Marks and Spencer Group Plc currently has a consensus rating of “Hold” and an average target price of GBX 354.91 ($4.58).
Shares of Marks and Spencer Group Plc (LON MKS) traded down 1.80% on Friday, hitting GBX 321.30. The company had a trading volume of 5,060,771 shares. Marks and Spencer Group Plc has a 12-month low of GBX 306.70 and a 12-month high of GBX 397.80. The company’s market cap is GBX 5.21 billion. The company has a 50 day moving average of GBX 323.17 and a 200-day moving average of GBX 343.04.
In other news, insider Archie Norman bought 10,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was purchased at an average price of GBX 320 ($4.13) per share, with a total value of £32,000 ($41,327.65).
About Marks and Spencer Group Plc
Marks and Spencer Group plc (M&S) is a retailer in the United Kingdom, with over 1,380 stores around the world. The Company is the holding company of the Marks & Spencer Group of companies. The Company operates through two segments: UK and International. The UK segment consists of the United Kingdom retail business and the United Kingdom franchise operations.
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