Tesco: Invest Securities raises target price.
(CercleFinance.com) - In a report issued on Thursday morning, Invest Securities raised its target price for the Tesco stock from 174 pence to 179 pence.
However, the broker remains a seller of the stock, believing that although the group has exited its crisis, "normalisation is slow".
Strongly establishing a reconquest that first needs to be commercial, by losing market share in the UK, is not glorious by any means, faced with a redistribution of cards in the sector, where the rise of the Aldi-Lidl discount duo still seems inevitable, the analyst says.
Invest Securities also refers to the "partial sainsburisation (sic)" of the group's model, which is reflected in the direct sacrifice of restructuring part of its international operations (e.g. in China and South Korea), which, according to the analyst, is detrimental to its valuation.
Copyright (c) 2017 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.
However, the broker remains a seller of the stock, believing that although the group has exited its crisis, "normalisation is slow".
Strongly establishing a reconquest that first needs to be commercial, by losing market share in the UK, is not glorious by any means, faced with a redistribution of cards in the sector, where the rise of the Aldi-Lidl discount duo still seems inevitable, the analyst says.
Invest Securities also refers to the "partial sainsburisation (sic)" of the group's model, which is reflected in the direct sacrifice of restructuring part of its international operations (e.g. in China and South Korea), which, according to the analyst, is detrimental to its valuation.
Copyright (c) 2017 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.