Tesco PLC (TSCDY) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Tesco PLC (NASDAQ:TSCDY) from a sell rating to a hold rating in a research report sent to investors on Friday. They currently have $7.75 price target on the stock.
According to Zacks, “TESCO PLC., is the UK’s largest retailer and one of the world’s leading international retailers. Tesco has reached this position through consistent focus on their four part strategy for growth: Tesco has a strong, growing core UK business offering customers excellent value, choice and convenience; Tesco aims to be as strong in non-food as it is in food; Tesco follows the customer into new areas like retailing services such as financial products (Tesco Personal Finance), internet shopping (Tesco.com) and telecoms (Tesco telecom offers mobile, fixed line and broadband services) & Tesco is a leading international retailer with a long term strategy for growth. Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. “
A number of other equities research analysts have also issued reports on TSCDY. Deutsche Bank AG reiterated a hold rating on shares of Tesco PLC in a research note on Tuesday, May 31st. Beaufort Securities reiterated a hold rating on shares of Tesco PLC in a research note on Saturday, June 25th. Citigroup Inc. reiterated a buy rating on shares of Tesco PLC in a research note on Friday, June 17th. Societe Generale reiterated a sell rating on shares of Tesco PLC in a research note on Tuesday, June 28th. Finally, Goldman Sachs Group Inc. reiterated a sell rating on shares of Tesco PLC in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $7.75.
Shares of Tesco PLC (NASDAQ:TSCDY) opened at 6.88 on Friday. Tesco PLC has a 1-year low of $6.00 and a 1-year high of $9.38. The company has a market cap of $18.64 billion and a price-to-earnings ratio of 99.71. The stock has a 50 day moving average price of $6.39 and a 200-day moving average price of $7.05.
About Tesco PLC
Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services. The Company’s segments include UK & ROI, which includes the United Kingdom and Republic of Ireland, International, which includes Czech Republic, Hungary, Poland, Slovakia, Malaysia, Thailand and Turkey, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.
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