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Kepler Cheuvreux starts Marks & Spencer at 'buy'

Tue 17 December 2024 15:37 | A A A

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(Sharecast News) - Kepler Cheuvreux initiated coverage of Marks & Spencer on Tuesday with 'buy' rating and 467p price target.

"M&S's share price has rallied spectacularly over the past two years," it said. However, the valuation multiples have risen little relative to its peers, Kepler said.

"Benefiting from high-quality management, we believe that M&S should continue to offer positive momentum in its two businesses, enabling the steady growth that sets it apart in the UK retail sector."

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