For those of us asking ourselves:- What would Warren Buffett do in this situation? The following article on Sharecast shows us:
"LONDON (SHARECAST) - Warren Buffett, a major American investor, has filled his trolley with £350m-worth of shares in Tesco's, the UK's largest supermarket chain.
The news did not come as much of a suprise as the business mogul owner of investment vehicle Berkshire Hathaway had said towards the end of 2011 that if Tesco's share price fell he would buy up more shares.
After the £5bn nose-dive in Tesco's shares last week, following the firm's worst festive period in 20 years, Buffet has stayed true to his word and stocked up, significantly increasing Berkshire Hathaway's stake from 3.6% to 5.1%.
Buffet previously purchased 34m Tesco shares at 371p each in September of last year."
In the wider investment community. I note that AlphaValue downgraded Tesco to add from buy, but raised its price target to 402.90p from 401.40p.
I know that the increase to the price target is miniscule but it seems quite bizarre really and I'm not sure how that works?
Article link:
- http://www.sharecast.com: Thursday broker round-up - UPDATE
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