From Morningstar:

Marks & Spencer’s stock market turnaround was a surprise in 2023 with shares doubling in value. Investors from Temple Bar and Edinburgh investment trusts bought shares in 2020 and 2021, reaping rewards in 2023. The company’s valuation is high, and a dividend increase to 1p per share may not be enough to attract some investors seeking higher returns.

As the end of March approaches, Marks & Spencer’s stock is trading above its Morningstar fair value estimate. The company is set to release a Christmas trading update on January 11. Food retailers, including Marks & Spencer, gained market share during the festive period, which could positively impact the company’s stock performance.

Investors are eager to learn about Marks & Spencer’s recent clothing sales and the performance of new store locations. The company’s food division has outperformed its rivals, and updates on store refreshes and new locations will also impact investors’ decisions moving forward.



Read more: Is Marks & Spencer a Buy in 2024?