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MARKS & SPENCER
Espirito Santo said the autumn/winter range should be the “clearest indication yet” on whether progress has been made, the unknown factor being how much gross margin general merchandise can make. It has upped its full-year profit forecast by one per cent but kept its “buy” rating and fair value price of 630p.
Jefferies expects a “solid” second quarter update from Kingfisher next week helped by the strong UK market and predicts a 4.2 per cent rise in UK sales. Its French businesses should also see a clear improvement in demand, the broker said. It has retained a “hold rating” and a target price of 350p.