Tesco: Barclays raises target price

(CercleFinance.com) - Barclays confirms "overweight" rating on Tesco shares, increasing its target price for them from £3.
25 to £3.35, on the heels of H1 results that area deemed to be vigorous - both operationally and financially.

While sales were pretty much in line with expectations, the broker points out that the British group's retail activities generated EBIT and FCF that exceed the consensus of 4.9% and 35.6% respectively.

Barclays also points to Tesco increasing its EBIT target for the year, to between £2.6bn and £2.7bn, against a previous forecast of around £2.49bn and a consensus of £2.59bn.


Copyright (c) 2023 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.