Morrisons' recovery will not have been derailed by bad weather, falling market share and the E.coli outbreak in Scotland, the City believes.
The chain will reveal its interims next Thursday. Analysts expect its turnover to have risen 2.6% year-on-year to reach £6bn, with pre-tax profit up 57% to £211m.
Oriel Securities' Jonathan Pritchard forecast pre-tax profits at the lower end of market expectations at £196m, but said Morrisons had made sufficient progress in the first half of the year. "If it does come in line with the consensus it would hit its targets, and it would be a decent stepping stone towards its full-year targets," he said.