Marks & Spencer: UBS no longer a buyer

(CercleFinance.com) - After an "exceptional performance", UBS has downgraded its rating on Marks & Spencer shares from "buy" to "neutral", given upside potential of 5% for the share, for its new target price, which it has raised from 230 to 250 pence (current price: 237.
50 pence, -1.3%).

In its summary, the broker says that it is raising its pre-tax profit estimate for the British department chain store's 2022 financial year by 35%, although it sees only moderate growth of 5%-7% beyond that.


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