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.
Looking to trade Morrisons and other retail stocks? Open a live or demo account with IG.
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.
You can go long or short Morrisons with IG using derivatives like CFDs.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get commission from just 0.08% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
