Citigroup Reaffirms Buy Rating for Ocado Group (OCDO)
Ocado Group (LON:OCDO)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup in a report released on Wednesday. They currently have a GBX 400 ($5.61) target price on the stock. Citigroup’s target price would indicate a potential downside of 15.63% from the stock’s previous close.
A number of other research analysts also recently weighed in on the company. Peel Hunt initiated coverage on Ocado Group in a report on Thursday, December 7th. They issued a “buy” rating and a GBX 460 ($6.45) target price on the stock. Credit Suisse Group reissued an “outperform” rating and issued a GBX 480 ($6.73) target price on shares of Ocado Group in a report on Monday, November 27th. Deutsche Bank reissued a “sell” rating on shares of Ocado Group in a report on Monday, November 20th. Societe Generale increased their target price on Ocado Group from GBX 189 ($2.65) to GBX 207 ($2.90) and gave the company a “sell” rating in a report on Wednesday, November 29th. Finally, Goldman Sachs Group reissued a “conviction-buy” rating and issued a GBX 430 ($6.03) target price on shares of Ocado Group in a report on Friday, November 24th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of GBX 371.75 ($5.21).
Ocado Group (LON:OCDO) opened at GBX 474.10 ($6.65) on Wednesday. Ocado Group has a 1-year low of GBX 233.10 ($3.27) and a 1-year high of GBX 551.40 ($7.73). The firm has a market capitalization of $3,000.00 and a PE ratio of 23,750.00.
Ocado Group plc is a United Kingdom-based online grocery retailer. The Company’s principal activities are grocery retailing and the development and monetization of Intellectual Property (IP) and technology used for the online retailing, logistics and distribution of grocery and consumer goods, derived from the United Kingdom.
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