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Stockbroker Shore Capital has downgraded Sainsbury’s from “hold” to “sell”, after the company announced that it expected like-for-like sales to be negative for several years. It added that the much anticipated price/margin reset by Tesco could impact Sainsbury’s negatively.
Stockbroker Panmure Gordon has awarded travel company Thomas Cook with a “buy” rating after the surprise exit of chief executive Harriet Green. It has reduced the firm’s target price, from 213p to 188p, but expects measured growth in the future as personnel changes take effect.