Not the most exciting share, but with safeway conversion now complete (and how much better the old safeway stores are now) the shares should start to come back. Already started a nice rise from a recent low. Costs for conversions will still hold the price back but when that is out of the way, should be be nice. 190p

Barclays Capital today reaffirms its underweight investment rating on Morrison (Wm) Supermarkets PLC (LON:MRW) and raised its price target to 225p (from 205p).

Morrisons reported stronger than expected retail sales over the festive period, supported by prices that were kept level with last year. As the first of the big four supermarkets to deliver its post-Christmas update, the Bradford-based group revealed group like-for-like sales of 3.6% in the nine weeks to 6 January. This comprised retail sales growth of 0.6%, with wholesale sales growing 3.0%.