Tesco: Berenberg upgrades shares to 'buy'
(CercleFinance.com) - Berenberg on Friday said it has upgraded its rating on British retailer Tesco from "hold" to "buy," seeing it as a "growth stock in food retail.
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In a research note to clients, the German broker points out improving conditions in the sector, as well as inflationary headwinds that are easing and subsiding competitive pressures.
"We would buy ahead of the FY 2017 results on 11 April, which we view as a positive catalyst," analysts said in their note.
They also raised their target price for the shares from 190 pence to 255 pence.
Copyright (c) 2018 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.
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In a research note to clients, the German broker points out improving conditions in the sector, as well as inflationary headwinds that are easing and subsiding competitive pressures.
"We would buy ahead of the FY 2017 results on 11 April, which we view as a positive catalyst," analysts said in their note.
They also raised their target price for the shares from 190 pence to 255 pence.
Copyright (c) 2018 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.