Wednesday 5 August 2020

5 Aug 2020 - Mid morning Update

Stoxx 600 Index Rises 0.9%; BP Leads Advance
Apple Cut to Neutral at BofA
Investec 1.35M Share Block Trades at 33.50 Rand
Direct Line Jumps to Highest in Five Months; Volume Doubles
DNO Shares Up 8.1%, Most in 2 Months; Trading Volume Quadruples

Tesco Upgraded to Buy on Defensive Credentials: Shore

(Bloomberg) -- Tesco upgraded to buy from hold at Shore, which says the U.K. grocer has rebuilt its defensive credentials that will “come to the fore in the more constrained times ahead.”

  • Shore sees EPS declining in the current year, followed by a “sharp rebound” in FY22 with further growth after that, analyst Darren Shirley writes in a note
  • There’s scope for extra cash to be returned to shareholders annually, given Tesco will soon be meeting its leverage targets, Shore says
  • NOTE: Tesco shares trade 0.9% higher as of 10:42am in London
  • The U.K. grocer on June 26 said 1Q sales jumped more than expected, fueled by customers switching from discounters, pandemic-related stockpiling and a surge in online shopping

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Beats on US Markit and ISM Services indices | Curve steepens

Beats on US Markit and ISM Services indices | Curve steepens