The City is not highly bullish on Tesco in today’s economic climate. This is understandable. However, could the market be discounting an overly-negative economic outcome?
Compared to a year ago, only half of the investment community are still maintaining a ‘Outperform’ rating on Tesco (12 to 7); while 6 brokers have put out a ‘Hold’ recommendation on the stock. And, only 3 analysts are issuing outright 'Buy' recommendations for Tesco.
However, market sentiment can change swiftly. Tesco has rebounded sharply from 200p and perhaps analysts may find themselves missing out the rally.
Out the 11 price targets for Tesco, the median level is 270p, w...