Tesco: Credit Suisse increases target price

(CercleFinance.com) - Credit Suisse maintains its neutral rating on Tesco shares, although has increased its target price from 266p to 290p (current price: 242p, pretty flat).


The broker highlights Tesco's "recent developments" and stronger than expected Christmas and Q3 sales.

Credit Suisse is also "encouraged" by management's comments on the profitability of its online business.

Analysts expect Tesco to report an operating profit before exceptional items of 2,533 million euros in 2020/2021.


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