JPMorgan Chase & Co. Issues Positive Forecast for Tesco (LON:TSCO) Stock Price

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 objective hoisted by JPMorgan Chase & Co. from GBX 400 to GBX 450 in a research report released on Monday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has an overweight rating on the retailer's stock.

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

Tesco Trading Up 1.5%

Shares of TSCO stock traded up GBX 6.20 during mid-day trading on Monday, hitting GBX 431.10. 12,417,457 shares of the company's stock were exchanged, compared to its average volume of 19,416,461. Tesco has a fifty-two week low of GBX 310.30 and a fifty-two week high of GBX 434.50. The stock has a 50-day simple moving average of GBX 416.55 and a two-hundred day simple moving average of GBX 383.48. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35. The stock has a market cap of £28.08 billion, a price-to-earnings ratio of 1,833.69, a PEG ratio of 1.43 and a beta of 0.51.

Tesco Company Profile

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.