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. Zacks Investment Research currently has $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. “
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG reaffirmed a hold rating on shares of Tesco PLC in a research note on Tuesday, May 31st. Citigroup Inc. reaffirmed a buy rating on shares of Tesco PLC in a research note on Friday, June 17th. Beaufort Securities reaffirmed a hold rating on shares of Tesco PLC in a research note on Saturday, June 25th. Societe Generale reaffirmed a sell rating on shares of Tesco PLC in a research note on Tuesday, June 28th. Finally, HSBC cut Tesco PLC from a buy rating to a hold rating in a research note on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Tesco PLC presently has an average rating of Hold and an average price target of $7.75.
Shares of Tesco PLC (NASDAQ:TSCDY) opened at 6.88 on Friday. Tesco PLC has a 52 week low of $6.00 and a 52 week high of $9.38. The firm has a market capitalization 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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