Marks & Spencer: Barclays raises its target
(CercleFinance.com) - Barclays remains 'Overweight' with a price target raised from 275 to 300 pence on Marks & Spencer, raising its pre-tax profit forecasts to double-digit percentages, following recent strong first-half results.
In the summary of its rating on the British department store chain, the broker says it expects a strong Christmas trading period and considers that 'the share's P/E multiple (10.5 times expected EPS for 2024/25) remains undemanding'.
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