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Deutsche Bank initiated coverage of Britvic at “hold” with a 750p price target. The broker said the same three drivers of the investment case in 2005 apply in 2015: a top line driven by innovation, strong cost management and some hope on international expansion.
MARKS & SPENCER
Charles Stanley downgraded M&S to “reduce” from “hold” and trimmed its target price from 584p to 582p, saying that investors may wish to take advantage of the share price strength to reduce exposure. It added that the stock has climbed around 50 per cent since October 2014.