Summary
THE Queen's stockbroker Cazenove has joined the debate about a possible property break-up of Britain's thirdbiggest supermarkets chain, J Sainsbury..
The broker has raised its rating on the food retailer from in- line to outperform and says the shares could be worth as much as 680p if the group's property assets, reckoned to be worth at least Pounds 8 billion, are refinanced. Sainsbury's responded with a rise of 5p to 57312p, having already come up from a low of 41014p this year on takeover hopes.See the full content of this document
Extract
Cazenove Puts in a Good Word for Sainsbury
Cazenove has told clients that Robert Tchenguiz's 5% stake in Sainsbury's will have a significant effect on the group's prospects and restructuring is increasingly likely. A private-equity consort...
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