Broker snap: Wm Morrison set to recover
Free email from MoneyWeek
Money
Morning is the FREE daily email from MoneyWeek – a punchy round-up
of the latest investment news and profit opportunities. DON’T MISS
IT!
This genius investor does dizzying levels of research to uncover...Half Price Shares!
Deutsche Bank has upgraded Wm Morrison to 'buy' from 'hold' saying good news in coming months should help the supermarket giant recover from weakness following its full year results in March.
The broker has lifted its like-for-like sales growth forecast for the year to 5% from 4% and expects cost savings to be better than expected.
(Article continues below)Advertisement
It trims its price target on the company to 310p from 315p, but said the group remains a good defensive investment in the current climate.
Elsewhere in the supermarket sector, Deutsche cut its target on J Sainsbury to 360p from 450p.
FREE! For all our latest advice on making profitable investments, claim your 3-week FREE trial of the MoneyWeek website and magazine now.
Money Morning is the FREE daily email from MoneyWeek
– a punchy round-up of the latest investment news and profit opportunities.
DON’T MISS IT!
