Zacks Investment Research Upgrades J Sainsbury (OTCMKTS:JSAIY) to “Buy”

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J Sainsbury (OTCMKTS:JSAIY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, reports. The brokerage presently has a $15.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.02% from the company’s previous close.

According to Zacks, “J Sainsbury plc is a leading UK food retailer with interests in financial services. It consists of Sainsbury’s Supermarkets, Sainsbury’s Local, Bells Stores, Jacksons Stores and JB Beaumont, Sainsbury’s Online and Sainsbury’s Bank. It employs 148,000 people. “

JSAIY has been the subject of a number of other research reports. Morgan Stanley reissued an “equal weight” rating on shares of J Sainsbury in a research report on Friday, January 8th. Berenberg Bank raised J Sainsbury from a “sell” rating to a “hold” rating in a research report on Thursday, January 21st. Kepler Capital Markets lowered J Sainsbury from a “buy” rating to a “hold” rating in a research report on Thursday, January 14th. Finally, Credit Suisse Group lowered J Sainsbury from an “outperform” rating to a “neutral” rating in a research report on Wednesday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.00.

Shares of J Sainsbury stock opened at $13.39 on Wednesday. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 3.31 and a beta of 0.57. The company’s 50 day moving average price is $13.59 and its 200-day moving average price is $12.55. J Sainsbury has a 52-week low of $8.82 and a 52-week high of $14.40.

About J Sainsbury

J Sainsbury plc, together with its subsidiaries, engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom. It operates through three segments: Retail Â- Food, Retail Â- General Merchandise and Clothing, and Financial Services. The company operates various store formats, including convenience stores and supermarkets.

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