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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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TSS Stores

December 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TSS
T&S, the convenience store operator, spiked after it received arecommended take-over bid from Tesco.  The offer is on the basisof 2.41 Tesco shares for every T&S share.  This  valuesT&S at 455p (with Tesco trading at 188.5p).  T&S’prospective PE (based on current year forecasts) is just 13.5, comparedto the 18 times that rival, Budgens, achieved when it was acquired inJuly.  Tesco’s offer for a company that operates in the sweet spotin food retailing therefore looks on the mean side and subscribersshould hold out for the small possibility of a counter bid.  T&S operates 862 convenience stores, trading as One-Stop, across England and Wales, as well as 365 newsagents and hig ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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