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Home / Momentum / Wm Morrison Supermarkets PLC (MRW.L) 19-03-20

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Wm Morrison Supermarkets PLC (MRW.L) 19-03-20

Will shares in Wm Morrison Supermarkets PLC (MRW.L) continue to rally, setting new recent highs?

 

  • Now trading at 196.1p (at time of writing), the price performance has been very strong.
  • Will it come to an end, or is this trend your friend?
  • Whilst momentum has been strong, traders should remember that past performance is not necessarily an indication of the future.
  • Shares -14% from 12-month highs; +19% from 12 month lows.

Latest News

18 Mar:  Morrisons, the supermarket business, witnessed a marginal increase in underlying end of year profits, though it delayed announcing more special dividends while the full implications of the coronavirus outbreak were being assessed.

02 Mar:  Bernstein has upgraded its rating on Morrison (Wm) Supermarkets (MRW) to outperform (from market perform).

28 Feb:  Credit Suisse today initiates coverage of Morrison (Wm) Supermarkets (MRW) with a outperform rating and target price of 225p.

27 Feb:  Barclays Capital reiterates its underweight rating on Morrison (Wm) Supermarkets (MRW) and reduced the target price to 175p (from 180p).

26 Feb:  Berenberg has downgraded its rating on Morrison (Wm) Supermarkets (MRW) to hold (from buy) and reduced the target price to 200p (from 225p).

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

Click to enlarge

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.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

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