(CercleFinance.com) – Jefferies lowered its advice on Tesco stock on Tuesday, bringing it from ‘buy’ to ‘hold’ with a price target reduced from 350 to 260 pence.
In a study of the UK retail sector, the analyst says its ‘worsening reflects the extent of input issues and uncertainty around demand developments, and risks around forecasts short-term benefits that flow from it.
Tesco shares were relatively immune to those comments on Tuesday, posting a gain of more than 2% this afternoon.
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