As it turns out, I was right on the money. Since that article was published, shares in the retailer have added nearly 20%, excluding dividends. Over the past 12 months, the stock’s returned 18%, including dividends.
And after this performance, I still think the stock has room to run higher as the group enters its next growth stage.
Tesco share price outlook
Since 2014, Tesco’s been in recovery mode. The group’s been trying to move on from its accounting scandal, shrink a bloated business, and fight off the discounters, Aldi and Lidl.
It was making significant headway on all of these points until the pandemic struck. The resulting chaos meant that the company had to drop everything and focus on … Read more