Tesco: price target raised by Barclays

(CercleFinance.com) - Barclays has reaffirmed its 'overweight' recommendation on Tesco, while raising its target price from 375 to 405 pence, judging that the underlying performance of the British retail group 'continues to impress'.


The broker points out that in the first half of 2024-25, retail EBIT and retail free cash flow exceeded consensus by 4% and 26% respectively, enabling management to raise its annual target for retail EBIT.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.