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What Goldman Got Wrong Upgrading UK's Biggest Retailer: Gadfly

Published on Dec 6 2017 1:30 PM in Features tagged: Trending Posts / Tesco / Goldman Sachs / Upgrade

What Goldman Got Wrong Upgrading UK's Biggest Retailer: Gadfly

It's been a long time since Tesco felt some stock market love.

But on Monday, analysts at Goldman Sachs Group Inc. issued a double upgrade of the shares to buy from sell, making them the biggest gainer in the FTSE-100 index on Tuesday.

They're right to be more positive on Tesco. The company's £3.9 billion takeover of Booker Group was recently approved by competition authorities with no forced store sales -- a far better outcome than had been widely expected.

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