Marks & Spencer Shares Gain (LON:MKS): Upgraded to Buy As Price ‘Attractive’
Marks & Spencer shares (LON:MKS) are rallying 3% today following an upgrade to “Buy” from “Neutral” by Citi, signaling renewed confidence in the retailer’s prospects. The upgrade suggests an attractive entry point for markets after a recent selloff, coupled with positive momentum within the business.
Citi’s price target is set at 440 GBp, reflecting an anticipated upside based on the company’s improving fundamentals. The upgrade follows a similar move by Jefferies back in May, which also assigned a “Buy” rating and a 440p price target, citing robust UK consumer fundamentals and expectations that a recent cyberattack would not significantly impede M&S’s medium-term market share gains.
M&S shares are trading 9.48% lower…
