Goldman Sachs upgraded Marks & Spencer to Buy from Neutral with a price target of 330 GBp, up from 255 GBp as part of the firm’s broader research note on Supermarkets in Europe. Food sales are directionally linked with inflation which, after a period of very high inflation, is currently normalizing, the analyst tells investors in a research note. The company has also seen the most significant earnings revisions and the greatest share price outperformance within the firm’s coverage, Goldman Sachs added.
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