Tesco: share rises after Credit Suisse upgrade
(CercleFinance.com) - The Tesco share was one of the biggest winners in London on Wednesday, after Credit Suisse upgraded the share.
The broker indeed upgraded its "neutral" rating to "outperform" on the UK retailer, with a target price of 280p, seeing a buy opportunity in the stock after its recent underperformance.
While the "unimpressive" annual results, which will be unveiled on 14 April, are already pretty much priced in by the market, investors are for the time being attributing zero value to the group's online business, which is doing very well, Credit Suisse points out.
At around 11:40 a.m. (London time), the supermarket group's share price was up 1.2%.
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