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Primark owner ABF top of the shops while Sports Direct and Debenhams get downgrades

Primark shop front
ABF is upgraded to ‘outperform’ from ‘sector perform’

Primark owner Associated British Foods Plc (LON:ABF) is seemingly top of the shops for Royal Bank of Canada as it made changes to its basket.

ABF is upgraded to ‘outperform’ from ‘sector perform’ and with a 3,400p price target the bank’s price target sees some 12% upside to the current price of 3,021p.

At the same time RBC has dimmed its view on Debenhams Plc (LON:DEB) to ‘sector perform’ from ‘outperform’.

RBC’s rating of Mike Ashley’s Sports Direct International Plc (LON:SPD) has, meanwhile, been cut to ‘underperform’ from ‘sector perform’.

Elsewhere, Morgan Stanley lifts its target price for fashion designer Burberry Group Plc (LON:BRBY) but stuck to a ‘equal weight’ rating – the target rises to 1,424p from 1,280p.

Jefferies nudges its target higher for National Express Group Plc, to 405p from 370p, and repeated a ‘buy’.


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