Why I’d prefer the Tesco share price over Marks & Spencer in 2020
It has seen a sharp fall over the past year, a continuation of a five-year-long history of falling share price. In fact, so dramatic is this story, that my colleague, Paul Summers, wrote about how much worse off investors would be if they had invested in the stock five years ago. Yet, M&S has a high price-to-earnings (P/E) ratio of 36.8 times, higher than the 15.2 times for Next, which is a much better performer. A case in point is the FTSE 100 pharmaceuticals giant AstraZeneca, whose share price has been defying gravity despite a P/E of 48 times. But I am at a loss to find a similar justification for M&S’s high P/E. The post Why I’d prefer the Tesco share price over Marks & Spencer in 2020 appeared first on The Motley Fool UK.