Marks & Spencer upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Marks & Spencer to Outperform from Sector Perform with a price target of 300 GBp, up from 285 GBp. The shares appear to be pricing no growth, but Marks & Spencer can deliver this with a progressive cash returns policy, “thus broadening its appeal to long term investors,” the analyst tells investors in a research note.