Tesco, UK Retailers Gain After Broker Upgrade -- Market Talk
25 Agosto 2023 - 7:48PM
Dow Jones News
Tesco tops the FTSE 100 risers at the close and other UK
retailers also gain after Barclays reportedly upgraded the UK
grocer. The bank increased its target price on Tesco to 325 pence
from 320p, saying it expects the company to report strong
first-half results on Oct. 4. "Consumer discretionary has seen a
lift today, with Tesco gaining ground on the back of a broker
upgrade after Barclays modestly raised its price target, giving a
lift to the rest of the sector, with Sainsbury's also higher," CMC
Markets analyst Michael Hewson writes. Tesco rises 1.9% to 260p,
Sainsbury's shares gain 1.3%, Primark owner Associated British
Foods advances 0.5% and fashion retailer Next is up 0.4%.
(philip.waller@wsj.com)
(END) Dow Jones Newswires
August 25, 2023 13:33 ET (17:33 GMT)
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