WM Morrison Supermarkets PLC (MRW) Receives Underperform Rating from BNP Paribas

Josh Kim
September 16, 2016

Several other research firms have also issued reports on MRW.

Morrison (Wm.) Supermarkets plc (MRW.L) reported that its profit attributable to the owners of the Company for 26 weeks ended 31 July 2016 increased to 110 million pounds from last year's 107 million pounds, with earnings per share improving to 4.68 pence from 4.57 pence in the previous year. BNP Paribas reissued an "underperform" rating and issued a GBX 165 ($2.20) price objective on shares of WM Morrison Supermarkets PLC in a research report on Wednesday. Jefferies Group reiterated a buy rating and set a GBX 210 ($2.80) price objective on shares of WM Morrison Supermarkets PLC in a research note on Wednesday, June 1st. Societe Generale restated a sell rating on shares of WM Morrison Supermarkets PLC in a research note on Tuesday, June 28th. The company has an average rating of Hold and a consensus price target of GBX 174.06 ($2.32). The business's 50 day moving average is 191.49 and its 200 day moving average is 191.6. The stock had a trading volume of 43,356,099 shares.

After halting sales declines in Morrison's supermarkets during his first year in charge, Potts is seeking growth in other areas to mitigate the damage of a United Kingdom grocery price war.

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The supermarket chain said it now expects to exceed its previously announced GBP1 billion, three-year cost-savings target by the end of fiscal 2017.

Receive Morrison (Wm) Supermarkets PLC News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morrison (Wm) Supermarkets PLC with MarketBeat.com's FREE daily email newsletter. The Company serves customers across the United Kingdom through approximately 500 stores and an online home delivery service. The Company's Market Street stores include butchers, fishmongers, bakery, cake shops, greengrocers, delis, oven fresh products, Fresh to Go products, flower shops and cafes.

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