Deutsche Bank Lowers Tesco PLC to Hold (TSCO)
Tesco PLC (LON:TSCO) was downgraded by analysts at Deutsche Bank to a “hold” rating in a research report issued to clients and investors on Thursday. They currently have a GBX 280 ($4.63) target price on the stock, down from their previous target price of GBX 313 ($5.18). Deutsche Bank’s target price points to a potential upside of 12.31% from the stock’s previous close.
Shares of Tesco PLC (LON:TSCO) traded down 1.20% on Thursday, hitting GBX 246.30. 17,802,468 shares of the company’s stock traded hands. Tesco PLC has a 52-week low of GBX 241.30 and a 52-week high of GBX 382.00. The stock has a 50-day moving average of GBX 261.1 and a 200-day moving average of GBX 290.5. The company’s market cap is £19.889 billion.
A number of other firms have also recently commented on TSCO. Analysts at Sanford C. Bernstein reiterated an “underperform” rating on shares of Tesco PLC in a research note on Wednesday, August 20th. They now have a GBX 235 ($3.89) price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Tesco PLC in a research note on Wednesday, August 6th. They now have a GBX 300 ($4.96) price target on the stock. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 327.88 ($5.43).
Tesco PLC, incorporated on November 27, 1947, is engaged in retailing and associated activities in the United Kingdom, China, the Czech Republic, Hungary, the Republic of Ireland, India, Malaysia, Poland, Slovakia, South Korea, Thailand and Turkey.
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