Tesco PLC (TSCDY) Rating Increased to Hold at Zacks Investment Research
Tesco PLC (NASDAQ:TSCDY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
Other research analysts have also recently issued reports about the company. Citigroup Inc. reissued a “buy” rating on shares of Tesco PLC in a research note on Friday. Deutsche Bank AG restated a “hold” rating on shares of Tesco PLC in a report on Wednesday, July 27th. HSBC lowered Tesco PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Beaufort Securities restated a “hold” rating on shares of Tesco PLC in a report on Saturday, June 25th. Finally, Shore Capital restated a “hold” rating on shares of Tesco PLC in a report on Wednesday. Two 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’s stock. The company currently has an average rating of “Hold” and an average price target of $7.75.
Shares of Tesco PLC (NASDAQ:TSCDY) opened at 7.47 on Friday. The firm has a 50-day moving average price of $6.77 and a 200-day moving average price of $6.96. Tesco PLC has a 12-month low of $6.00 and a 12-month high of $9.32. The firm has a market cap of $20.24 billion and a price-to-earnings ratio of 113.18.
Tesco PLC Company Profile
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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