Report
Clément Genelot

Tesco: handling Asda well so far

Post-strong Q1 results with Tesco handling Asda even better than expected and slightly higher food inflation, we have lifted our FY25/26-27/28 FCF estimates by 5% and our PT from 387p to 418p. Although the stock has recovered from its April dip and is back at an all-time high since 2015 at 397p and
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Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Clément Genelot

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