Marks & Spencer: Barclays raises TP
(CercleFinance.com) - Barclays maintains an "Overweight" rating on Marks & Spencer shares, raising its target price for them from 275 pence to 300 pence, increasing its pre-tax earnings estimates to double-digit percentages, following its recent strong H1 results.
In its summary of the British department store chain, the broker says that it expects a strong Christmas trading period and considers that "the stock's multiple (10.5x PE for 24/25) remains undemanding".
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