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

Published: 09:26 30 Aug 2016 BST

Primark shop front

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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