Tesco: Jefferies downgrades stock
(CercleFinance.com) - On Tuesday Jefferies downgraded Tesco shares from "buy" to "hold", having slashed its target price for them from 350 pence to 260 pence.
In a study of the UK retail sector, the analyst said that the downgrade reflects the extent of input issues and uncertainty around demand trends, in addition to risks to short-term earnings expectations that this poses.
However, Tesco shares were unaffected by these comments, as they actually closed up over 3% yesterday.
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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.
In a study of the UK retail sector, the analyst said that the downgrade reflects the extent of input issues and uncertainty around demand trends, in addition to risks to short-term earnings expectations that this poses.
However, Tesco shares were unaffected by these comments, as they actually closed up over 3% yesterday.
Copyright (c) 2022 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.