Friday, December 16, 2005 5:53:28 AM ET
Dow Jones Newswires
0931 GMT [Dow Jones] CSFB lifts Marks & Spencer (MKS.LN) target price 16% to 500p. Ups pretax profit estimate for 05/06 to GBP735M from GBP713M and in 06/07 to GBP853M from GBP830M. Follows an increase to sales growth estimates for general merchandise in 2H by 180 basis points to 2.2% and for food by 100 basis points to 6%. "The shares are valued at 12.5x 2007/08 eps on our revised forecasts suggesting decent underpinning at the current price with further near-year forecast upside potential." Trades +0.9% at 491.75p. (DWE)
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