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.
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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