WM Morrison Supermarkets (MRW) Price Target Lowered to GBX 245 at Deutsche Bank

WM Morrison Supermarkets (LON:MRW) had its price objective reduced by Deutsche Bank from GBX 260 ($3.48) to GBX 245 ($3.28) in a report released on Tuesday morning. Deutsche Bank currently has a hold rating on the grocer’s stock.

A number of other equities analysts have also recently commented on the stock. reaffirmed a hold rating on shares of WM Morrison Supermarkets in a research note on Wednesday, September 6th. BNP Paribas reaffirmed an outperform rating and set a GBX 270 ($3.61) price target on shares of WM Morrison Supermarkets in a research note on Wednesday, September 13th. Barclays dropped their price target on shares of WM Morrison Supermarkets from GBX 220 ($2.94) to GBX 215 ($2.87) and set an underweight rating for the company in a research note on Friday, September 15th. Societe Generale reaffirmed a sell rating and set a GBX 170 ($2.27) price target on shares of WM Morrison Supermarkets in a research note on Friday, September 15th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a GBX 260 ($3.48) price target on shares of WM Morrison Supermarkets in a research note on Friday, September 15th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of GBX 229.16 ($3.06).

Shares of WM Morrison Supermarkets (MRW) traded up GBX 4.30 ($0.06) during trading hours on Tuesday, hitting GBX 223.30 ($2.99). 12,879,513 shares of the company’s stock were exchanged, compared to its average volume of 8,480,000. WM Morrison Supermarkets has a 1-year low of GBX 205 ($2.74) and a 1-year high of GBX 254.40 ($3.40). The stock has a market cap of $5,260.00 and a PE ratio of 1,488.67.

In other WM Morrison Supermarkets news, insider Tony van Kralingen purchased 13,000 shares of WM Morrison Supermarkets stock in a transaction dated Friday, November 17th. The stock was acquired at an average price of GBX 211 ($2.82) per share, for a total transaction of £27,430 ($36,676.03). Also, insider Belinda Richards purchased 232 shares of WM Morrison Supermarkets stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average price of GBX 215 ($2.87) per share, with a total value of £498.80 ($666.93). In the last 90 days, insiders bought 23,232 shares of company stock valued at $4,982,880.

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About WM Morrison Supermarkets

Wm Morrison Supermarkets PLC is engaged in the operation of retail supermarket stores under the Morrisons brand and associated activities. The Company offers products, such as Free From, World Foods, Food To Go and Nutmeg clothing. It has food manufacturing capabilities in meat, fish, bakery, fruit and veg, deli and flowers.

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