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NEW YORK (TheStreet) -- With the European economy going through a rough patch, TheStreet TV's Jack Mohr is looking for some favorable investment opportunities. 

In his search for the top five best European stocks to buy for 2015, he's already looked at Bank of Ireland (IRE) at No. 5, Transocean (RIG) at No. 4, and ArcelorMittal (MT) at No. 3

For his number two pick, Mohr is taking a closer look at Tesco (TSCDF) , the U.K.'s largest grocer. Warren Buffett recently slashed his stake in the company, calling the investment a "huge mistake." 

And while the stock is down on the year, Mohr believes there is opportunity. Not only does the company have the most grocery locations in the U.K., but it also controls 50% of the online market. 

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TSCDF data by YCharts

British retail sales surged at the fastest annual rate in November in more than a decade, as Black Friday discounts drove record sales growth for many major retails, he said. 

This boost in consumer spending seems likely to find its way to Tesco. If the business simply stabilizes, the stock could have a big run in 2015. In fact, Mohr believes it can be "one of the best performing retail stocks of 2015." 

The company also has many nongrocery properties. These properties alone are likely worth more than the current enterprise value of the company, he concluded. 

-- Written by Bret Kenwell 

Follow @BretKenwell

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.