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Tesco: Credit Suisse begins coverage with 'Underperform'

(CercleFinance.com) - An analyst at Credit Suisse today initiates coverage of the Tesco share with an "Underperform" rating, coupled with a target price of 216 pence.


"We believe Tesco is highly exposed to disruption, which we think the market is underestimating," the broker says. "Our geolocation analysis suggests Tesco is the worst positioned of the Big 4 to face threats from the discounters and food delivery," it adds.

At lunchtime on Thursday, the Tesco share is down over 2.5% at 235 pence.

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