MARKET TALK: Tesco Share Price Fall Decent Buying Opportunity

8th Jun 2010 11:36

1036 GMT [Dow Jones] Tesco's (TSCO.LN) share price decline following the surprise resignation of its CEO, Terry Leahy, represents a decent buying opportunity, says S&P Equity Research. Reckons the shares have been oversold since the end of April, despite attractive fundamentals. Says: "We believe the company remains well placed to regain market share from imminent austerity measures, which are certain to impact consumer sentiment and spending, whilst also pushing its international presence." S&P adds that strategy changes are unlikely, given the internal appointment. Keeps at buy with 500p price target. Shares -2.4% at 397p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 08, 2010 06:36 ET (10:36 GMT)