Deutsche Bank Lowers Marks and Spencer Group (MKS) Price Target to GBX 330
Marks and Spencer Group (LON:MKS) had its target price cut by analysts at Deutsche Bank from GBX 335 ($4.54) to GBX 330 ($4.48) in a report issued on Friday. The brokerage presently has a “hold” rating on the retailer’s stock. Deutsche Bank’s price objective suggests a potential upside of 6.73% from the company’s current price.
Other research analysts also recently issued reports about the stock. lowered their price target on shares of Marks and Spencer Group from GBX 435 ($5.90) to GBX 410 ($5.56) and set a “buy” rating for the company in a report on Tuesday, November 7th. Jefferies Group reiterated a “buy” rating and set a GBX 420 ($5.70) price target on shares of Marks and Spencer Group in a report on Tuesday, September 26th. Peel Hunt reiterated a “buy” rating and set a GBX 450 ($6.10) price target on shares of Marks and Spencer Group in a report on Wednesday, November 8th. Shore Capital reiterated a “hold” rating on shares of Marks and Spencer Group in a report on Wednesday, November 8th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a GBX 375 ($5.09) price target on shares of Marks and Spencer Group in a report on Wednesday, November 8th. Nine investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of GBX 339.33 ($4.60).
Shares of Marks and Spencer Group (LON:MKS) traded up GBX 8 ($0.11) on Friday, reaching GBX 309.20 ($4.19). 20,047,992 shares of the company’s stock traded hands, compared to its average volume of 8,350,000. Marks and Spencer Group has a 1-year low of GBX 296.30 ($4.02) and a 1-year high of GBX 397.80 ($5.39). The firm has a market capitalization of $5,020.00 and a P/E ratio of 2,810.91.
In other news, insider Archie Norman purchased 33,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average price of GBX 300 ($4.07) per share, with a total value of £99,000 ($134,255.49).
About Marks and Spencer Group
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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