Tesco: UBS still buying after H1 results

(CercleFinance.com) - UBS reiterates its Buy rating on the stock, with a target price of 300 pence, after the food retailer published its H1 results.


UBS believes that Tesco has had a solid first half; "EBIT and FCF guidance raised to be ahead of buyside expectations", the broker says.

"TSCO 1H call was constructive on many levels: industry outlook, consumer, profit delivery and cost headwinds. Expect Cons to move to the top end", it adds.


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