Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Barclays Capital goes against the herd as it initiates coverage of M&S with 'overweight'

The bullish stance and 410p a share price target was predicated on Marks’ move further into food and the shift away from clothing
M&S lingerie model
The shares, down 17% in the last year, advanced 2.5% to 361p in the wake of Barclays coverage initiation

Barclays Capital is going against the herd with its analysis of Marks & Spencer Group PLC (LON:MKS), according to the latest broker data.

It has initiated coverage of the retailer's stock with an ‘overweight’ recommendation, which puts it in the minority of City scribes.

According to the Bloomerg newswire, there are twice as many sell-side analysts with negative recommendations than there are those holding positive views.

READ: M&S new store opening plans

CLICK HERE: For a daily round-up of all the Proactive news

The bullish stance and 410p a share price target was predicated on Marks’ move further into food and the shift away from clothing.

This, analysts at the investment bank said, was ‘increasingly relevant’ to the M&S story.

The shares, down 17% in the last year, advanced 2.5% to 361p in the wake of Barclays coverage initiation.

On Thursday Marks unveiled plans to open 34 new food stores and two clothing, home and food stores in the next six months as part of its five-year programme to improve its UK store estate.

M&S said it is also consulting over the proposed closure of four outlets - in Portsmouth, Slough, Warrington, and Wokingham, as well as two Simply Food stores in Monks Cross and Worksop.

The group currently has 959 UK shops: 304 full line stores, 615 food-only stores and 40 outlets.

CLICK HERE: For a daily round-up of all the Proactive news

Ian_55ae0ddd437b7.jpg


Register here to be notified of future MKS Company articles
View full MKS profile

Marks and Spencer Group Plc Timeline

Related Articles

H&T pawnbrokers
March 13 2017
H&T had an aureus anni - that's a golden year to thee and me (if Google translate is to be trusted)

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use