It was a tough quarter for Tesco. The retailer is likely to remain under pressure in the near term, on the back of the Polish and Thai operations. The South-East Asian country is still lucrative for Tesco (with potential for a performance turnaround in the mid/long-term). However, we would not be surprised if management decides to exit Poland in the coming quarters. We have revised down our earnings estimates, also downgrading the stock recommendation (from Buy to Add).
05 Oct 2018
H1 mired by weak International business
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H1 mired by weak International business
Tesco PLC (TSCO:LON) | 298 -0.3 (0.0%) | Mkt Cap: 20,983m
- Published:
05 Oct 2018 -
Author:
Nishant Choudhary -
Pages:
4
It was a tough quarter for Tesco. The retailer is likely to remain under pressure in the near term, on the back of the Polish and Thai operations. The South-East Asian country is still lucrative for Tesco (with potential for a performance turnaround in the mid/long-term). However, we would not be surprised if management decides to exit Poland in the coming quarters. We have revised down our earnings estimates, also downgrading the stock recommendation (from Buy to Add).