Saturday November 22nd 2008

About us | Advertise | Contact us | Register | Password reminder | Recommend us | Mobile

You are here: News / The City view - Tesco and Sainsbury's

The City view - Tesco and Sainsbury's

Archived article dated Friday August 22nd 2008

The completion of a £605 million sale and leaseback deal today (August 21) by Tesco on almost 2% of its total property portfolio suggests that UK food retailer property values are intact.

This led Bernstein to re-iterate in 'Outperform' recommendations on both Tesco and Sainsbury's as it believes they remain attractively valued and are trading at well below historic PE multiples. It believes that further property transactions are likely to offer valuation upside to the UK's food retailers as their property assets are being heavily discounted by the market. As a result the broker sets a price target of 440p for Tesco, compared with an underlying share price of 370.4p, and a target of 360p for Sainsbury's, compared with a current price of 313.25p.

Tagged as: sainsbury | tescos

Text size: A | A | A

Should your colleagues be reading the Retail Bulletin?
Let them know about us.

 

• Home page
• News
• Legal
• City and Corporate
• Property
• Responsible Retailing
• Brands
• Economic news
• Technology
• Events
• Share Prices
• Retail jobs
• Retail Suppliers Guide
• Retail Conferences
• People In Retail Awards 2008
• bssa

• Merchandiser £45,000
• Merchandiser £50,000
• Area Manager - Supermarket Chain - Liverpool £50,000
• Area Manager £42,000

Job title

Location

Minimum salary Any 20,000 per year 30,000 per year 40,000 per year 50,000 per year 60,000 per year 70,000 per year 80,000 per year 90,000 per year 100,000 per year 110,000 per year 120,000 per year

• More retail jobs

• Suppliers guide
• List your company

All contents copyright © 2008 The Retail Bulletin Ltd. All rights reserved.
terms of website use | privacy policy | acceptable use policy | archive subscription terms of use