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Marks & Spencer and IAG Get Downgraded by Jefferies, BNP Paribas Analysts

Updated: 18 Nov 2021

London-listed analyst downgrades and price target changes…

Downgrade/Upgrade:

Analyst James Grzinic at Jefferies has downgraded Marks & Spencer to Hold from Buy, setting a price target of 250p, up from 220p. Grzinic put the company's valuation as the reason for the downgrade. The company's “rehabilitation looks largely complete,” said the analyst. In addition, he told investors in a research note that earnings upside potential now looks more limited.

Exane BNP Paribas analyst James Hollins has downgraded IAG to Underperform from Neutral, setting a 150p price target. The analyst told investors that he sees “external headwinds,” including weaker corporate travel and higher Heathrow fees.

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Peel Hunt's Matthew Saperia upgraded British Land to Add from Hold, setting a 580p price target.

Diageo:

Deutsche Bank analyst Mitch Collett increased the price target on Diageo to 4,470p from 4,300p, maintaining a Buy rating on the shares.

Also Read: The Best UK Tech Stocks to Buy

Credit Suisse analyst Sanjeet Aujla increased the price target on Diageo to 4,400p from 4,250p, maintaining an Outperform rating on the shares.

Other:

Credit Suisse analyst Chintan Khamar reduced the price target on Ferrexpo to 350p from 370p, maintaining a Neutral rating on the shares.

Jefferies analyst Caroline Gulliver reduced the price target on Asos to 4,050p from 5,800p, maintaining a Buy rating on the shares. Gulliver updated her estimates, and even though the price target was reduced, the analyst sees upside for the stock due to its “robust” growth outlook.

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