JPMorgan analyst Borja Olcese double upgraded Tesco (TSCDY) to Overweight from Underweight with a price target of 410 GBp, up from 270 GBp. The firm believes the European food retail sector will move into “stock-picker territory” in 2025 and updated recommendations based on its recent analysis. The analyst sees upside risk to the company’s fiscal 2025 and 2026 outlook and consensus estimates.
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