Monday, December 19, 2005 4:18:49 AM ET
Dow Jones Newswires
0803 GMT [Dow Jones] JP Morgan upgrades Marks & Spencer (MKS.LN) price target to 528p from 470p citing "marked improvement in general merchandise full price sales, supported by weaker comparisons." Further gross margin initiatives at FY results (May 06) on the back of improved sourcing and renegotiation of supplier contracts should add up to 7.4% to FY 06/07 EPS, it says. Dividend increase could be 15% to 13.6p. Retains overweight recommendation. Trades down 0.3% at 488p. (JEK)
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