Last checked at 28 Mar 2023 08:35
UK's Ocado Retail keeps profit guidance after quarterly sales rise
Q1 revenue up 3.4% year-on-year
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Marks & Spencer Information
Share Price Information for Marks & Spencer (MKS)
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Share Price:
286.50
Bid:
286.40
Ask:
286.60
Change:
-7.40 (-2.52%)
Spread:
0.20 (0.07%)
Open:
294.70
High:
295.00
Low:
286.00
Prev. Close:
293.90
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Don't have an account? Click here to register.Citi ups M&S to 'buy', says investment case is 'evolving'
Mon, 13th May 2019 13:15
(Sharecast News) - Citi upgraded its recommendation on Marks & Spencer shares to buy' from 'neutral' on Monday, as it argued that the investment case is "evolving"."Understanding the cultural change and the Ocado Retail JV is paramount to understand the rational for this pivot," it said.Back in February, M&S said it was buying a 50% share of Ocado's UK retail business for up to £750m. It said at the time that the JV would accelerate its food strategy as it enables the compay to take its food online in an "immediately profitable, scalable and sustainable way".Citi went on: "Accordingly we have undertaken a detailed bottom up scenario analysis of the Ocado Retail JV with Citi's Food Retail analyst Nick Coulter. We consider the aggregate of the structural changes has the potential to re-invigorate the M&S business to a greater degree than investors expect."It said the Ocado JV is an "elegant" solution to a structural gap in the M&S business model and reflects a bold decision to buy into a market leading online proposition."M&S is a business which is making itself more relevant for the next decade," Citi said, adding that its bottom-up scenario analysis suggests a possible £4.7bn sales base and £334m EBITDA after 15 years.Citi lifted its price target on M&S to 330p from 290p.
More News
28 Mar 2023 07:08
UK's Ocado Retail maintains outlook as quarterly sales rise
LONDON, March 28 (Reuters) - British online supermarket Ocado Retail said revenue rose 3.4% in its fiscal first quarter and it maintained its financial guidance for the year.
Read more28 Mar 2023 07:01
Ocado Retail sees revenues rise despite 'challenging' backdrop
(Sharecast News) - Ocado Retail reported a rise in first-quarter revenues on Tuesday despite a fall in basket sizes, and said it remained on track to return to sales growth and profitability.
Read more27 Mar 2023 09:34
LONDON BROKER RATINGS: Panmure cuts Centamin to 'hold'
(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:
Read more22 Mar 2023 17:56
FTSE 100 gains ahead of Bank of England meeting; Fed in focus
UK inflation still in double-digit territory
*Read more22 Mar 2023 17:06
LONDON MARKET CLOSE: Stocks mixed as hot inflation muddies rate call
(Alliance News) - Stock prices in London on Wednesday ended mixed as hotter than expected inflation figures put the spotlight on the Bank of England ahead of its interest rate decision on Thursday.
Read more22 Mar 2023 11:56
LONDON MARKET MIDDAY: Stocks lower, pound up as rate decisions loom
(Alliance News) - Stock prices in London were largely lower at midday on Wednesday, as in-coming interest rate decisions from the US Federal Reserve and the Bank of England weighed on investors' minds.
Read more22 Mar 2023 09:22
LONDON BROKER RATINGS: Citi, Exane BNP and Goldman all raise M&S
(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:
Read more22 Mar 2023 07:55
LONDON BRIEFING: UK inflation surprises with rise to 10.4% in February
(Alliance News) - Stocks in London are set to open slightly lower on Wednesday, after UK inflation came in hotter than expected in February.
Read more6 Mar 2023 12:42
UK retail bosses hit out at govt on lack of business rates reform
(Sharecast News) - The heads of three major UK retailers have criticised business rates reform for not meeting government pledges, calling them a "far cry" from what was promised.
Read more6 Mar 2023 11:42
Jefferies upgrades Tesco, Kingfisher
(Sharecast News) - Jefferies has upgraded Tesco and Kingfisher, as part of a wider review of its UK retailer ratings.
Read more6 Mar 2023 09:48
LONDON BROKER RATINGS: DB cuts Reckitt; Jefferies likes Tesco
(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:
Read more6 Mar 2023 00:01
Costa Coffee raises UK staff pay for third time in a year
LONDON, March 6 (Reuters) - Costa Coffee has followed rival Pret A Manger in raising pay for its British store staff for the third time in a year.
Read more2 Mar 2023 00:01
Britain's Pret raises staff pay for third time in a year
LONDON, March 2 (Reuters) - British coffee and sandwich chain Pret A Manger will raise staff pay for a third time in a year, an increase that will likely pique the interest of the Bank of England as it weighs up inflationary pressure in the economy.
Read more1 Mar 2023 20:09
TRADING UPDATES: Ediston signs 10-year lease with Marks & Spencer
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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