Zacks Investment Research Upgrades Tesco PLC (TSCDY) to “Buy”
Tesco PLC (NASDAQ:TSCDY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $8.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.89% from the company’s previous close.
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. “
Tesco PLC (NASDAQ TSCDY) traded down 3.50% during trading on Thursday, hitting $6.90. 226,369 shares of the stock were exchanged. Tesco PLC has a 52 week low of $6.00 and a 52 week high of $8.24. The firm has a 50-day moving average of $7.08 and a 200-day moving average of $7.24. The stock’s market capitalization is $18.75 billion.
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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