Goldman Sachs Group Inc Reiterates Conviction-Buy Rating for Ocado Group PLC (OCDO)
Ocado Group PLC (LON:OCDO)‘s stock had its “conviction-buy” rating reiterated by investment analysts at Goldman Sachs Group Inc in a note issued to investors on Friday. They currently have a GBX 430 ($5.66) price objective on the stock. Goldman Sachs Group Inc’s price target points to a potential upside of 80.14% from the stock’s current price.
Several other research analysts also recently issued reports on OCDO. Shore Capital reaffirmed an “under review” rating on shares of Ocado Group in a report on Tuesday, August 22nd. Citigroup Inc. started coverage on Ocado Group in a report on Wednesday, August 30th. They set a “buy” rating and a GBX 400 ($5.26) price objective on the stock. Deutsche Bank AG reaffirmed a “sell” rating and set a GBX 220 ($2.89) price objective on shares of Ocado Group in a report on Friday, September 1st. reaffirmed a “reduce” rating and set a GBX 180 ($2.37) price objective on shares of Ocado Group in a report on Friday, September 15th. Finally, Numis Securities Ltd reaffirmed a “buy” rating and set a GBX 400 ($5.26) price objective on shares of Ocado Group in a report on Tuesday, September 19th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of GBX 313.92 ($4.13).
Ocado Group (LON:OCDO) opened at GBX 238.70 ($3.14) on Friday. Ocado Group has a 1-year low of GBX 233 ($3.06) and a 1-year high of GBX 340 ($4.47).
In other news, insider Andrew Harrison bought 6,666 shares of the stock in a transaction on Wednesday, October 11th. The stock was purchased at an average price of GBX 300 ($3.95) per share, for a total transaction of £19,998 ($26,302.78). Also, insider Duncan Tatton-Brown bought 7,033 shares of the stock in a transaction on Thursday, September 28th. The shares were purchased at an average price of GBX 283 ($3.72) per share, with a total value of £19,903.39 ($26,178.34). In the last quarter, insiders have acquired 13,858 shares of company stock valued at $4,035,240.
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About Ocado Group
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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