BUZZ-M&S: hits 7-yr high as brokers lift targets
** Marks & Spencer (Other OTC: MAKSF - news) up 3.1 pct at 7-yr high as brokers hike targets after co recently posted best quarterly non-food sales performance in 4 yrs
** Exane BNP Paribas lifts TP to 640p vs 570p, keeps "outperform" rating
** Broker sees announcement on additional cash returns at FY results (May 20) as likely; across FY16-18 forecasts c.£2bn to be returned to shareholders - c.22% of current market cap
** Barclays (LSE: BARC.L - news) hikes TP to 390p vs 350p, but still "underweight"; reckons share price already reflects optimistic sales outcome & significant supply chain benefits
** Barclays says major cash returns unlikely in May as co remains highly leveraged; broker says M&S continues to rank particularly low compared to European apparel peers in spending money productively
** Stock up 40 pct over last 6 mths amid food business outperforming wider grocery market & improving profit margins both in non-food & food (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)