Tesco PLC (TSCDY) Rating Increased to Buy at Zacks Investment Research
Tesco PLC (NASDAQ:TSCDY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $8.50 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.84% from the stock’s current price.
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. “
Separately, BNP Paribas lowered Tesco PLC from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Tesco PLC presently has an average rating of “Hold” and an average target price of $8.50.
Tesco PLC (NASDAQ:TSCDY) traded up 0.80% during trading on Thursday, hitting $7.60. 76,216 shares of the stock were exchanged. The stock’s 50 day moving average is $7.19 and its 200-day moving average is $7.00. Tesco PLC has a one year low of $6.34 and a one year high of $8.24. The company’s market cap is $20.66 billion.
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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 and Thailand, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.
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