TSCDF - Tesco Still Faces Challenges But Current Valuation Is Not Too Demanding
- UK grocery giant Tesco has had an awful decade-plus as it had to adjust to the ultra-competitive domestic environment.
- COVID was a mixed bag for the firm. Grocery sales were boosted by strict UK lockdowns but it had to take on a host of extra pandemic-related costs.
- That headwind should prove transient, with the firm set to return to pre-COVID profit levels this year.
- A forward PE ratio below 13 is not too demanding and the shares can do okay from here, notwithstanding the poor medium-term history.
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Tesco Still Faces Challenges But Current Valuation Is Not Too Demanding