<strong>MARKS &amp; SPENCER</strong><br />Societe Generale raised its top-end-of-consensus current year pre-tax profit forecasts for Marks &amp; Spencer by 10 per cent, to &pound;654m. The broker increased its target price to 500p and has a &ldquo;buy&rdquo; rating on the stock, following the firm&rsquo;s trading statement last week.<br /><br /><strong>WHITBREAD</strong><br />Goldman Sachs removed Whitbread from its &ldquo;conviction buy&rdquo; list after a period of outperformance, but reiterates its &ldquo;buy&rdquo; rating, with a target price of 1,350p. The broker said that it believes the stock&rsquo;s valuation discount relative to the sector is unjustified.<br /><br /><strong>CABLE &amp; WIRELESS</strong><br />ING cut its earnings forecasts for Cable &amp; Wireless&rsquo;s International business by 4.6 per cent after the company&rsquo;s July trading statement warned of continued pressure in the Caribbean and slower enterprise spending in Panama. It downgraded the stock to &ldquo;hold&rdquo; from &ldquo;buy&rdquo;.