Note to Tesco Plc Investors – 12 October 2014
Since our last update, an accounting scandal along with the FCA’s intention to investigate this, has seen the pressure upon Tesco ratcheted up considerably.
As a result, the shares have fallen further, hitting our latest price target of 175.00 pence and a new 11-year low at 170.00 pence. With this, the shares have now fallen by 33% in the last three months alone.
While we are by no means attracted to the shares at their current levels, we are cautious of being excessively bearish without having had a chance to assess the full financial impact upon the business of recent events. For this reason, we have elected to view the group’s financial results, due on 23 October, before updating our trading guidance and price target for the shares.
Tesco Plc Share Price Hourly Intervals
Tesco Plc Share Price Daily Intervals
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