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Morgan Stanley on Monday upgraded British retailer J Sainsbury (SBRY.L) to equal weight from underweight and increased its price target to 3.45 pounds sterling from 2.61 pounds.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Goldman Sachs on Monday downgraded British retailer J Sainsbury (SBRY.L) to sell from buy and decreased its price target to 3.35 pounds sterling from 3.90 pounds.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Citi on Monday downgraded British supermarket chain J Sainsbury (SBRY.L) to neutral from buy rating and lowered its price target to 3.35 pounds sterling from 3.77 podunds.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
British stocks extended their losses to a fifth day, with the FTSE 100 down 0.75% on Friday's close, amid fresh tariff threats and continued geopolitical uncertainty arising from the Middle East conflict.US President Donald Trump told The Telegraph that he is looking at "putting a big tariff on the UK" if British Prime Minister Keir Starmer does not drop the digital service tax, which is aimed at Apple, Meta and other major technology companies.On the economic front, the UK's retail sales volumes rose 0.7% on a monthly basis in March, following a revised 0.6% decline in February, according to data from the Office for National Statistics. Annually, retail sales volumes increased 1.7%, against the revised 1.8% gain earlier.In corporate news, Bernstein lowered its price target for J Sainsbury (SBRY.L), d/b/a Sainsbury's, to 3.40 pounds sterling from 3.50 pounds, with the stock rated market-perform, following the British grocery retailer's broadly in-line fiscal 2026 results. The stock closed the trading session 1.29% in the green."The challenge for Sainsbury's is that 6 years into the CEO's tenure, margins have gone backwards over the last few years (c. >-30bps) and could soften further into next year. This is despite a well-defined and well executed strategy to put Food First, playing out in market share gains, grocery volume growth, improved pricing, and improved FCF," the research firm said. "However, this successful commercial turnaround is continuously hampered by Argos, cost pressure, macro weakness & competitive pressures, and does not seem to be able to feed into higher margins or a greater share of the profit pool."Meanwhile, aerospace and defense companies Babcock International Group (BAB.L) and BAE Systems (BA.L) were among the blue-chip index's top fallers, losing 4.60% and 2.86%, respectively, at closing.
London's FTSE 100 closed 0.19% lower on Thursday as the lack of peace talks between the US and Iran increased the possibility of a protracted conflict and the closure of the Strait of Hormuz, while the latest economic data reignited fears of a tighter monetary policy.Britain's private sector output growth accelerated in April, supported by modest rebounds in manufacturing production and in services activity, flash data from S&P Global showed. The flash UK PMI Composite Output Index hit a two-month high of 52 in April, compared with 50.3 in the previous month and the consensus of 49.8."The UK economy has gathered some renewed momentum in April after the initial impact of the war in the Middle East caused growth to stall in March, but the upturn comes with a catch," S&P Global Market Intelligence Chief Business Economist Chris Williamson said. "The improved rate of expansion is in part a reflection of a short-term boost from a rush to secure purchases ahead of feared price rises and supply shortages linked to the war.""The unexpected rise in the UK PMIs suggests the economy may retain some momentum in Q2, but also that the Bank of England (BoE) may have to raise interest rates to lean against inflation," according to Berenberg. "The rise in the composite output PMI leaves it consistent with growth of 0.2% qoq, above our forecast for unchanged output (0.0%). However, the larger increase in the selling prices balance than in the eurozone coupled with mentions of strong wage pressures points to a higher risk of second-round effects (i.e. pay rises to keep pace with inflation) than we anticipated given the weak labour market backdrop."In corporate news, J Sainsbury (SBRY.L), d/b/a Sainsbury's, posted annual growth in preliminary profit and revenue for fiscal 2026, with a warning that the Middle East conflict will weigh on both its customers and business. The British supermarket chain became one of the FTSE 100's worst performers, with shares down 3.68% at closing."FY25 was broadly in line with profits of GBP1,025m and [free cash flow] beat by +2.5%. Q4 trading was softer in grocery (-30 [basis-point] miss) at +4.5% but [general merchandise] outperformed and beat weak expectations. The problem is the guidance range of GBP975-1,075m which is below current consensus of GBP1,100m and therefore we will see consensus trend downwards," Bernstein said.
J Sainsbury (SBRY.L), d/b/a Sainsbury's, shares were down 5% during Thursday's midday trade, as the company's fiscal 2027 guidance came in below market expectations amid the ongoing Middle East conflict.The British supermarket chain projects its fiscal 2027 total underlying operating profit to come within the 975 million pounds sterling and 1.08 billion pounds range, below the consensus estimate of 1.10 billion pounds, according to research firm RBC Capital Markets. The group also maintained its guidance of retail free cash flow to exceed 500 million pounds, against the market forecast of 551 million pounds.Even with the cautious outlook, Sainsbury's preliminary total retail sales, excluding fuel, for the 52 weeks ended Feb. 28, 2026, was 4.3% higher year over year to 29.99 billion pounds. Including fuel, total retail sales climbed 2.8% to 33.55 billion pounds.Sainsbury's namesake stores generated 25.88 billion pounds in sales, up 4.9% from the 52 weeks ended March 1, 2025. The growth was underpinned by a 24.26 billion-pound performance in grocery, which the retailer attributed to its Taste the Difference product range and value initiatives such as Nectar Prices, Aldi Price Match and Your Nectar Prices."We will do everything we can to support our customers and colleagues over the coming months, with absolute focus on keeping prices low. We have made a positive start to the new financial year, with continued strong Grocery momentum," Chief Executive Simon Roberts, noting the company is pledging over 5 billion pounds to British and Irish farmers to bolster the supply chain amid growing market volatility.On the capital allocation side, Sainsbury's board recommended a final dividend of 0.096 pound per share, slightly lower than the 0.097 pound per share it paid a year ago. The proposed distribution takes the full-year dividend to 0.137 pound per share from 0.136 pound per share a year ago, which the company noted aligned with its progressive dividend policy.For fiscal 2027, the group also plans to repurchase 300 million pounds worth of shares, comprising a 200 million-pound core buyback alongside an additional 100 million-pound return derived from net bank disposal proceeds.Despite adopting a negative sentiment on Sainsbury's full-year results, RBC sees the company as a "strong player" in the UK food retailing segment. "We are encouraged by the progress it has made in improving its price-value credentials, and we think work to showcase the Food range better, combined with a more curated General Merchandise offering, and space growth is supporting good market share gains now. We expect this to continue through 2026," the research firm wrote.