Deutsche Bank analyst Adam Cochrane upgraded Marks & Spencer to Buy from Hold with a price target of 210 GBp, up from 145 GBp. The analyst says the outlook for European retailers is getting "noticeably less chilly" and the firm now prefers clothing retailers over hardlines as well as discounters and physical retail over online. It is taking a less bearish view and expects inflationary pressures in selling costs to become a tailwind in the second half of the year. Deutsche adjusted seven ratings in the sector.
Published first on TheFly
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