Sainsbury: stock rises with broker upgrade

(CercleFinance.com) - Sainsbury's shares are up 3% today, bucking the trend in London, buoyed by a recommendation upgrade by UBS from 'neutral' to 'buy', with a target price raised from 275 pence to 295 pence for the food retailer's shares.


The broker summarises that the market is not fully integrating the company's medium term margin and cash return potential, and believes that the fall in the share price offers a good entry point for investors.


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