Morrisons share price: what’s the latest ahead of its Christmas trading statement?
The British supermarket chain will unveil its Christmas trading statement next week, with investors hoping for a boost in sales over the festive period.
Morrisons will unveil its Christmas trading update on January 7, with investors hoping to see a sales boost over the festive period.
Morrisons was the worst performer of the big four supermarkets ahead of the Christmas season, with sales sliding 2.9% in the 12 weeks to December 1, according to data from research firm Kantar.
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Analysts remain mixed about Morrisons price trajectory
Over the last 12 months, Morrisons has seen its share price slide 4% to trade at 202p as of 13:35 GMT on Monday.
Of the 15 analysts offering 12-month price targets for the stock the median target sits at 220p, which represents a potential upside of 8.9%.
Jefferies remains the most upbeat about the company’s price trajectory, with analysts from the US-based investment bank reiterating their ‘buy’ rating in December and maintaining a 255p target price for the stock.
Goldman Sachs remains the most pessimistic, reiterating its ‘neutral’ rating and downgrading its price target from 235p to 210p in November.
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