Tesco: Jefferies raises target price, maintains 'buy'
(CercleFinance.com) - Jefferies has raised its target price for the Tesco share from 265 pence to 275 pence, citing the British food retailer's "more upbeat international tone.
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In a note to clients, the US broker maintained its "buy" rating on the stock, saying that it expects a "nicely supportive run-up" to the full-year results, on 10 April.
Jefferies also notes the latest developments regarding Brexit.
"With only 15% of group EBIT earned outside the UK, Tesco should emerge as a favoured consumer play at a time when the Brexit political process appears to be progressing towards a rationally managed conclusion," it said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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In a note to clients, the US broker maintained its "buy" rating on the stock, saying that it expects a "nicely supportive run-up" to the full-year results, on 10 April.
Jefferies also notes the latest developments regarding Brexit.
"With only 15% of group EBIT earned outside the UK, Tesco should emerge as a favoured consumer play at a time when the Brexit political process appears to be progressing towards a rationally managed conclusion," it said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.