Bout of Euphoria


Headlines say investors have a bout of euphoria and all stock picks this week are 85% BUY, 8% HOLD and 7% SELL.


1. BUY Marks & Spencer

Top stock pick this week is BUY Marks & Spencer Group by Deutsche Bank with a tip performance of 5%.

The darling high street retailer is in the medias good books this week as it sets to enter the FTSE 100 again after it raised its profit outlook in a trading update this week. The growth is due to an increase in food, clothing and home department’s sales.

M&S launched at 169p in 1988, hit a high of 707p in 2007 and is now at 230p.

Four of four analysts in Stockomendation with different opinions: Credit Suisse says OUTPERFORM, Goldman Sachs says NEUTRAl, Barclays says OVERWEIGHT and Deutsche Bank says BUY. There are seven short positions currently open.


2. BUY TT Electronics

Second interesting stock pick this week was BUY TT Electronics by Peel Hunt with a tip performance of 4%.

Peel Hunt upgraded its rating from ADD to BUY this week and upped the price target to 240p. Jefferies says HOLD and of three two other analysts in Stockomendation say BUY. There are no active short positions open.


3. SELL Abrdn

Top interesting 7 day stock pick this week is SELL Abrdn by Deutsche Bank with a tip performance of almost 13%!

The Edinburgh headquartered fund manager was founded 198 years ago and merged with Standard Life in 2017.

Abrdn share price opened at 273p in 2006, went to an all-time high of 557p in 2015 and today is at 167p. It reported a £320 million pre-tax loss for the first six months of 2023.

Abrdn share price has dropped 26% since March and reports £4.4 billion has been divested by clients this year adds to woes. On Friday Deutsche Bank reduced the target price by 10p to 165p and downgraded the rating from HOLD to SELL.

Two of five analysts in Stockomendation say SELL, they are UBS and Deutsche Bank; two NEUTRAL JP Morgan and Goldman Sachs; and Credit Suisse says UNDERPERFORM. There are 12 short positions currently open.

Image credit : www.drapersonline.com


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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 17th August 2023.