MARKET TALK: Tesco Shares Undervalued - Credit Suisse

9th Jul 2010 12:29

1129 GMT [Dow Jones] Tesco (TSCO.LN) shares are undervalued, Credit Suisse analysts say. "For the first time in many years, Tesco now looks at least as undervalued on an absolute basis as any other European food retailer," the broker says. "Returns are now likely to go up. Tesco's sales/profit track record is very strong, and both look set to double again during the next few years." Outperform rating and 460p target price, with potential upside beyond 500p, the broker says. Shares -0.3% at 393p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 09, 2010 07:29 ET (11:29 GMT)