Brokers note Majestic Wine
The broker also cites the positive comments made by the company’s chief executive about the business’s strength as it moves into the Christmas period and the confidence he has in riding out the recession.
Altium believes the positive momentum from H1 will be carried over into H2, which will be further helped by weak comparatives. The earlier upgrades to its forecasts on Majestic place the broker ahead of consensus but it suggests there could be further increases ahead. For now it is keeping its ‘Hold’ recommendation and target price at 216p, which compares with an underlying share price of 227p.
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