Research analysts at Berenberg Bank have upgraded their rating for Marks and Spencer Group (LON:MKS) to “buy” in a recent report issued on November 5, 2023. The new price target for the retailer’s stock is set at GBX 415, an increase from the previous target of GBX 412. This adjustment suggests a potential upside of approximately 17.56% from the company’s current trading price.
Several other financial institutions have also weighed in on Marks and Spencer Group. Peel Hunt maintained a “hold” rating with a target price of GBX 360, while Citigroup raised its price objective from GBX 440 to GBX 450 and recommended a “buy” rating on November 10, 2023. Additionally, UBS Group reiterated a “buy” rating with a price target of GBX 435 on November 7, 2023. Shore Capital labeled the stock as a “house stock” in their report on the same day, and JPMorgan Chase & Co. reissued an “overweight” rating shortly thereafter.
Currently, five research analysts have rated Marks and Spencer Group as a “buy,” while two analysts have given it a “hold” rating. According to data from MarketBeat.com, the average rating for the stock is “Moderate Buy,” with a consensus price target of GBX 415.83.
Recent Financial Performance
Marks and Spencer Group released its quarterly earnings on November 5, 2023, reporting an earnings per share (EPS) of GBX 6.60 for the period. The company achieved a return on equity of 17.23% and a net margin of 3.77%. Analysts predict that the retailer will post earnings of approximately 26.01 EPS for the current fiscal year, reflecting positive expectations for its financial future.
Insider Transactions and Company Overview
In a notable insider transaction, Sean Doyle, an insider at Marks and Spencer Group, purchased 2,526 shares of the company on December 3, 2023, at an average price of GBX 334 per share. This transaction totaled approximately £8,436.84. Currently, corporate insiders hold about 0.51% of the company’s stock.
Marks and Spencer Group, known for its commitment to quality and innovation, operates as a family of businesses, offering a broad range of high-quality, own-brand products and services alongside selected third-party brands. With a global network of stores and online platforms, the company employs around 65,000 colleagues, serving over 30 million customers annually. As the company continues to reshape its operations for sustainable growth, it aims to enhance value creation for its stakeholders.
