By Sarah Shannon<\/p>\n
March 1 (Bloomberg) — Tesco Plc<\/a>, Britain\u2019s largest retailer, rose the most in a month in London trading after Warren Buffett<\/a>\u2019s Berkshire Hathaway Inc. disclosed an increased stake and JPMorgan Cazenove raised its recommendation. <\/p>\n Tesco rose<\/a> 13.4 pence, or 3.2 percent, to 433.1 pence as of 4 p.m. local time. Berkshire said in a Feb. 27 statement that its shareholding rose 3.1 percent to 234.2 million shares, giving the Omaha, Nebraska-based company a 3 percent stake. <\/p>\n JPMorgan analysts raised their Tesco rating to \u201cneutral\u201d from \u201cunderweight\u201d today, citing improving domestic and international sales<\/a> along with \u201cbetter prospects\u201d for cash flow. The brokerage increased its price estimate to 450 pence. <\/p>\n Today\u2019s share gain is \u201ca combined factor of having a big name like Buffett behind the stock and analyst upgrades,\u201d James Monro<\/a>, an analyst at Standard & Poor\u2019s in London, said by phone. He has a \u201cbuy\u201d recommendation on Tesco. <\/p>\n \u201cFor the shares to outperform we believe the company would need to outperform its peers again in the U.K., improve its capital turnover ratios internationally and prove it can boost free cash flow generation without impacting growth,\u201d JPMorgan analysts including Jaime Vazquez<\/a> said in the report.<\/p>\n Share Investor Links<\/span><\/a><\/a><\/p>\n Share Investor Blog<\/a> – Stockmarket & Business commentary Download the 2009 Warren Buffett Letter & 2009 Annual Report to Berkshire Hathaway Shareholders<\/span><\/a> Recommended Amazon Reading<\/span><\/p>\n
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