JPMorgan Chase & Co. Initiates Coverage on Ocado Group PLC (OCDO)
Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Ocado Group PLC (LON:OCDO) in a report issued on Thursday. The firm set an “overweight” rating and a GBX 500 ($8.41) price target on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 36.09% from the company’s current price.
Ocado Group PLC (LON:OCDO) traded down 0.93% during mid-day trading on Thursday, hitting GBX 364.00. 1,408,305 shares of the company’s stock traded hands. Ocado Group PLC has a 1-year low of GBX 260.02 and a 1-year high of GBX 623.50. The stock has a 50-day moving average of GBX 343.0 and a 200-day moving average of GBX 443.6. The company’s market cap is £2.120 billion.
OCDO has been the subject of a number of other recent research reports. Analysts at HSBC reiterated an “underweight” rating on shares of Ocado Group PLC in a research note on Friday, June 6th. They now have a GBX 230 ($3.87) price target on the stock. Separately, analysts at BNP Paribas reiterated a “neutral” rating on shares of Ocado Group PLC in a research note on Thursday, May 22nd. They now have a GBX 300 ($5.04) price target on the stock. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Ocado Group PLC in a research note on Thursday, May 22nd. They now have a GBX 680 ($11.43) price target on the stock. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of GBX 409.44 ($6.88).
Ocado Group plc is a United Kingdom-based holding company. The Company’s principal activities are the retailing, logistics and distribution of grocery and consumer goods and the development and monetisation of intellectual property and technology for the online retailing, logistics and distribution of these goods.
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