Brokers note - Morrisons
However, Bernstein has reservations on whether Morrisons can close the margin gap with its competitors. It therefore believes the current valuation fairly reflects the earnings prospects for the group, following its 8% increase yesterday. To reflect the upgrades to earnings and share price the broker has upped its target price from 260p to 300p, which compares with an underlying share price of 270p.
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