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BUZZ-Tesco: Societe Generale cuts PT

Reuters - UK Focus

** Tesco (Xetra: 852647 - news) 's shares down 2 pct, third-largest FTSE 100 faller, after Societe Generale (Swiss: 519928.SW - news) cuts PT on co to 180p from 215p, keeps "hold" rating

** "We are cutting our price target from 215p to 180p to reflect a more cautious estimate of end-FY15/16 net debt (£4.4bn vs £3.6bn), and higher long-term capex to reflect sales growth," analysts write in note

** Of 24 analysts covering stock, 9 have a "buy" or higher rating, 10 are "hold", and 5 rate it "sell"; median PT is 190p

** SocGen (Paris: FR0000130809 - news) rated 4-stars on Tesco, according to StarMine data

** Co second-largest loser on the Stoxx 600 Retail Index , breaking four-day streak of gains (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)