BUZZ-M&S: Clothing market share gains leads to brokers' backing

** Brokers back recovery forecast UK retailer M&S

** M&S said improving profit margins and steady market share showed its struggling clothing business was on the mend

** Barclays (LSE: BARC.L - news) says pleased to see further evidence of full-price market share gains in clothing over recent months -- reiterates "overweight" and ups PT by 4 pct to GBP 4.25

** Brokerage adds that co's expectation of flat clothing gross margin in 2017/18 despite clear forex headwinds is "further evidence of the successful work done on sourcing"

** Comment echoed by Jefferies ("buy") which gains confidence in improved clothing offer, citing mgmt's confidence to offset forex headwinds with better buying terms

** Clothing market share gains are commendable, Canaccord ("hold") says, adding this has undoubtedly helped to drive investor sentiment recently -- ups PT by 20 pct to 375p

** Jefferies also says co is "spending it well" -- Barclays (Swiss: BARC.SW - news) says 2017/18 capex guidance reduction is "encouraging evidence" of co's focus on capital discipline