Tesco: Jefferies raises target price

(CercleFinance.com) - Jefferies has confirmed its "buy" rating on Tesco shares, having raised its target price for them from 320 pence to 350 pence; increasing its estimates by over 6% for the British retailer represents "a rare bright spot in an uncertain consumer universe".


The broker considers Tesco's singularity to be overlooked by investors, judging by its multiples (share trading at 10.5x 2024e EPS). "The group continues to benefit from strong execution and very clear capital allocation", it says.


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.