Tesco Corp. (TESO) Gets An Upgrade

In a recent report released by Sidoti & Co., Tesco Corp. (NASDAQ: TESO)(FREE stock trend analysis) has been given a price upgrade of $2.

Sidoti & Co. has pegged new 12 month price target at $17 up from earlier estimate of $15. This new target is based on 9X multiple of estimated 2011 EBITDA of $1.90 per share. It has also revised EPS estimates for Tesco on the basis of its strong competitive position.

The report raised EPS estimate for 2010 to $0.25 from $0.23. Similarly EPS estimate for 2011 has now been fixed at $0.66 instead of earlier estimate of $ 0.61.