LONDON, October 8 (newratings.com) - Analyst Freddie George of Seymour Pierce maintains his "hold" rating on J Sainsbury Plc (ticker: SBRY-GBX). The target price has been reduced from 330p to 300p.
In a research note published this morning, the
analyst mentions that the company posted 8.4% sales growth for 2Q, driven by increased promotional activity and improved focus on advertising programme value. J Sainsbury's stock appears fairly valued at present and the company is likely to benefit from reduced space in non food on the high street, the analyst says.
© 2008 New Ratings
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