Tesco has continued its positive lfl momentum in Q4. Considering management’s success in the implementation of the turnaround plan, we take a more positive view on the company’s profitability going forward. Booker’s financials have also been integrated into our model. Moreover, the company looks much healthier today considering better than expected working capital management and its ability to reduce pension and debt obligations. Our stock recommendation is reset upwards to
19 Apr 2018
Strong end to FY17/18; Booker integration is valuation accretive
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Strong end to FY17/18; Booker integration is valuation accretive
Tesco PLC (TSCO:LON) | 282 -3.7 (-0.5%) | Mkt Cap: 19,843m
- Published:
19 Apr 2018 -
Author:
Nishant Choudhary -
Pages:
4
Tesco has continued its positive lfl momentum in Q4. Considering management’s success in the implementation of the turnaround plan, we take a more positive view on the company’s profitability going forward. Booker’s financials have also been integrated into our model. Moreover, the company looks much healthier today considering better than expected working capital management and its ability to reduce pension and debt obligations. Our stock recommendation is reset upwards to