Tesco: Rating Downgrade As Valuation Has Caught Up With Near-Term Expectations

Following my coverage on Tesco ( OTCPK:TSCDY ) in Apr'24, which I recommended a buy rating as I expected the business to continue improving its fundamentals, and with its strong balance sheet, it can continue to return capital to shareholders, this post is I take a fundamentals-based approach to value investing.I disagree with the common misconception held by many investors that low multiple stocks must be cheap. I look for companies that offer the best long-term durability at the most affordable prices. Co ...