UK food retailer Tesco is now screening attractively to MM on a few levels after enduring a tough decade, for those unfamiliar with the company its similar to Woolworths in Australia with around 4,000 stores across Britain.
- The stocks trading on ~13x forward earnings putting it squarely in the cheap corner.
- As inflation gathers momentum supermarkets are one sector that should benefit.
- The businesses structural turnaround is gathering momentum, its grocery has increased market share for the first time in 4-years as online shopping continues to improve.
MM likes TSCO around GBP280
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