Morrisons Page 4

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Morrisons Page 4

2) Morrisons (MRW)

Morrison WM Supermarkets (-)
Will shares post fresh highs above 220p (+5%) or pull back into the channel floor 140p (-33%)?

Shares have turned over at 220p to make for shallow rising resistance
Back to rising support?
Technicals overbought
Even most Bullish broker target predicts share price fall!

Broker Consensus: 5% Buy, 42% Hold, 53% Sell

Bullish: Bernstein, Market Perform, Target 210p, -2% (29 Sept)

Average Target: 189p, -12% (30 Sept)

Bearish: HSBC, Reduce, Target 135p, -37% (16 Sept)

N.B. All pricing and consensus data was sourced from Bloomberg on 30 Sept. Recommendations and target prices are revised regularly due to heightened market volatility. Please contact us for a full, up to date rundown.

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

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