LONDON, October 27 (newratings.com) - Analyst Philip Dorgan of Panmure Gordon upgrades J Sainsbury Plc (ticker: SBRY-GBX) from "sell" to "hold," while raising his estimates for the company. The target price is set to 240p.
In a research note published
this morning, the analyst mentions that the company's share price has fallen in the recent past due to consumer spending concerns and news of share placing. J Sainsbury's upcoming interim results are likely to positively surprise the market, the analyst says. The company is likely to have made healthy margin progress in the period, Panmure Gordon adds. The EPS estimates for 2009 and 2010 have been raised from 18.86p to 19.45p and from 19.38p to 19.97p, respectively.
© 2008 New Ratings
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