Goldman Sachs Group Lowers Marks and Spencer Group (MKS) Price Target to GBX 275
Marks and Spencer Group (LON:MKS) had its price objective dropped by equities researchers at Goldman Sachs Group from GBX 330 ($4.44) to GBX 275 ($3.70) in a note issued to investors on Monday. The firm presently has a “sell” rating on the retailer’s stock. Goldman Sachs Group’s price objective suggests a potential downside of 12.84% from the stock’s current price.
Several other equities research analysts have also recently weighed in on MKS. Credit Suisse Group restated a “neutral” rating and issued a GBX 370 ($4.98) price objective on shares of Marks and Spencer Group in a research report on Friday, September 1st. Barclays lowered their price objective on shares of Marks and Spencer Group from GBX 425 ($5.72) to GBX 370 ($4.98) and set an “overweight” rating for the company in a research report on Friday, September 1st. Deutsche Bank lowered their price objective on shares of Marks and Spencer Group from GBX 360 ($4.85) to GBX 345 ($4.64) and set a “hold” rating for the company in a research report on Friday, September 8th. Jefferies Group restated a “buy” rating and issued a GBX 420 ($5.65) price objective on shares of Marks and Spencer Group in a research report on Tuesday, September 26th. Finally, J P Morgan Chase & Co restated an “underweight” rating and issued a GBX 285 ($3.84) price objective on shares of Marks and Spencer Group in a research report on Tuesday, October 31st. Nine equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of GBX 350.70 ($4.72).
Shares of Marks and Spencer Group (LON:MKS) opened at GBX 315.50 ($4.25) on Monday. Marks and Spencer Group has a 1 year low of GBX 296.30 ($3.99) and a 1 year high of GBX 397.80 ($5.35).
Marks and Spencer Group (LON:MKS) last posted its quarterly earnings data on Wednesday, November 8th. The retailer reported GBX 10.70 ($0.14) earnings per share for the quarter, beating the consensus estimate of GBX 9.60 ($0.13) by GBX 1.10 ($0.01). The firm had revenue of GBX 512.56 billion during the quarter. Marks and Spencer Group had a net margin of 1.65% and a return on equity of 5.62%.
In other news, insider Archie Norman acquired 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was purchased at an average price of GBX 300 ($4.04) per share, for a total transaction of £99,000 ($133,243.61).
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About Marks and Spencer Group
Marks and Spencer Group plc (M&S) is a retailer in the United Kingdom, with over 1,380 stores around the world. The Company is the holding company of the Marks & Spencer Group of companies. The Company operates through two segments: UK and International. The UK segment consists of the United Kingdom retail business and the United Kingdom franchise operations.
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