Factoring in the strength of the dollar against sterling since the end of March, Goldman has cut £26mln off its earnings before interest and tax (Ebit) forecast, which now stands at £930mln, up 13% year-on-year.
The earnings per share forecast has been trimmed by 2% to 146.3p, up 10% year-on-year.
The changes fed through to a cut in its sum of the parts-based price target to 3,000p from 3,100p and a downgrade to ‘neutral’ on valuation grounds.
AB Foods currently trades at 2,721p, down 1.1% on the day.
It’s 2018 and you still can’t order online from Primark, what’s that all about ????????♀️— Sam (@SamLR0) May 15, 2018