JPMorgan Chase & Co. Raises Tesco (LON:TSCO) Price Target to GBX 450

Key Points

• JPMorgan Chase & Co. has raised its target price for Tesco from GBX 400 to GBX 450, indicating a potential upside of 4.07% for the stock, which currently holds an "overweight" rating.
• Citigroup has also increased its price target for Tesco to GBX 460, giving the retailer a "buy" rating, suggesting positive sentiment among analysts towards the company's prospects.
• Tesco shares opened at GBX 432.40, with a twelve-month trading range between GBX 310.30 and GBX 434.50, reflecting significant volatility in the stock's performance.

Tesco (LON:TSCO - Free Report) had its price target lifted by JPMorgan Chase & Co. from GBX 400 to GBX 450 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has an overweight rating on the retailer's stock.

Separately, Citigroup raised their price objective on Tesco from GBX 395 to GBX 460 and gave the stock a "buy" rating in a report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of GBX 455.

Tesco Price Performance

TSCO traded up GBX 2.20 on Monday, hitting GBX 441. 1,139,013,500 shares of the company were exchanged, compared to its average volume of 25,860,844. The company has a debt-to-equity ratio of 126.35, a quick ratio of 0.60 and a current ratio of 0.81. The business's fifty day moving average is GBX 418.07 and its 200 day moving average is GBX 384.17. Tesco has a fifty-two week low of GBX 310.30 and a fifty-two week high of GBX 442.60. The firm has a market capitalization of £28.72 billion, a P/E ratio of 1,875.80, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

About Tesco

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Our commitment to our customers extends beyond our stores, and into every community we serve – in the UK, Republic of Ireland, Slovakia, the Czech Republic and Hungary. We invest in communities to help them thrive, through supporting schools and children's groups, food banks and other good causes. In challenging times, our purpose has guided every part of the Group.