Open an account Help & support Register Account summary Log out
Skip Header
Home Stock market news

Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Citi upgrades Marks & Spencer to 'buy', sees attractive entry point

Mon 08 Sep 2025 08:53

(Sharecast News) - Citi upgraded Marks & Spencer on Monday to 'buy' from 'neutral' and lifted the price target to 440p from 380p as it said structural tailwinds are underappreciated. "With the shares 18% below pre-Cyber levels, we see an attractive entry point for a business with good underlying momentum," it said.

Citi said that in Fashion, app and survey data suggest M&S is gaining share with younger customers. The bank said its proprietary model implies this can add around 1.5 percentage points to its like-for-like sales per year.

In Food, meanwhile, Citi said its modelling suggests a larger mix of 'bigger baskets' is driving share gains as M&S benefits from trade down from restaurants.

"These tailwinds leave M&S well placed to outperform amid any UK macro uncertainty, and should add circa 4-5pp to LFLs per annum," it said.

"Looking beyond Cyber, we believe FX gross margin tailwinds and modest operating leverage will drive margin expansion to exceed M&S's CMD targets."

The bank said its new estimates are 7%/13% above Visible Alpha consensus for FY27e/FY28e adjusted pre-tax profit.

At 0850 BST, the shares were 2% higher at 349p.

Share this article

Related Sharecast Articles

Thu 13 Aug 2026 07:19
Thursday newspaper round-up: Greenland, Morrisons, Cisco Systems
(Sharecast News) - Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president's envoy that Americans could be extracting crude by next year. Amid Trump's imperialist threats, tensions have been rising on Greenland's eastern coast after the oil company brought drilling equipment ashore in July without permission, drawing a "strong warning" from the government. - Guardian
Wed 12 Aug 2026 07:14
Wednesday newspaper round-up: Heatwaves, AI data centres, CoreWeave
(Sharecast News) - Repeated debilitating heatwaves this summer are likely to have cost the UK economy more than £4bn in lost economic output by the end of July, new analysis shows. Green thinktank Verdant had suggested June's unseasonally hot weather had an economic cost of £2.36bn. Updating its assessment to include last month's high temperatures, it finds a £4.4bn hit to output. - Guardian
Tue 11 Aug 2026 07:24
Tuesday newspaper round-up: consumer confidence, easyJet, Thames Water
(Sharecast News) - Consumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men's football World Cup and more people holidaying in the UK lifted summer spending. A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long period of heightened uncertainty. A long-running monthly consumer spending survey by Barclays showed that 30% of those surveyed felt confident about the strength of the UK economy in July - representing a 21-month high and a six-percentage-point improvement on June. - Guardian
Mon 10 Aug 2026 07:18
Monday newspaper round-up: Harvey Nichols, Heathrow, Lloyds Banking Group
(Sharecast News) - Andy Burnham has promised a series of measures to tackle the cost of living, including a ban on fake discounts and making it easier for people to escape unwanted subscriptions. The crackdown on "rip-off" business practices is expected to benefit consumers to the tune of £400m a year and will be the first in a range of "everyday fixes" to be implemented in the coming months. - Guardian

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Awards

Award 1
Award 2
Award 3

Policies and important information

Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Statutory and Regulatory disclosures | Whistleblowing programme

Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.

This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.

© FIL Limited 2026