Tesco PLC (TSCDY) Upgraded to Hold by Zacks Investment Research
Tesco PLC (NASDAQ:TSCDY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
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. “
A number of other equities analysts have also recently issued reports on TSCDY. HSBC cut Tesco PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Goldman Sachs Group Inc. restated a “sell” rating on shares of Tesco PLC in a report on Tuesday, August 23rd. Shore Capital restated a “hold” rating on shares of Tesco PLC in a report on Wednesday. Deutsche Bank AG restated a “hold” rating on shares of Tesco PLC in a report on Wednesday, June 29th. Finally, Societe Generale restated a “sell” rating on shares of Tesco PLC in a report on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $7.75.
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Tesco PLC (NASDAQ:TSCDY) opened at 7.47 on Friday. Tesco PLC has a one year low of $6.00 and a one year high of $9.32. The stock’s 50 day moving average price is $6.77 and its 200 day moving average price is $6.96. The company has a market capitalization of $20.24 billion and a P/E ratio of 113.18.
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, Thailand and Turkey, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.
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