JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Ocado Group (LON:OCDO) Stock

Key Points

• JPMorgan Chase & Co. has raised Ocado Group's price target from GBX 400 ($5.28) to GBX 437 ($5.77), indicating a potential upside of 38.77% based on the company's previous close.
• Ocado Group shares opened at GBX 314.90 ($4.16) and the company has a market capitalization of £2.64 billion with a PE ratio of -11.99.
• Ocado Group specializes in end-to-end online grocery fulfillment solutions through its Ocado Smart Platform, holding a 50% stake in Ocado Retail Ltd in a joint venture with Marks & Spencer.

Ocado Group (LON:OCDO - Get Free Report) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from GBX 400 ($5.32) to GBX 437 ($5.81) in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 28.53% from the stock's previous close.

Ocado Group Stock Down 2.6%

Shares of OCDO traded down GBX 9.10 ($0.12) during trading hours on Friday, hitting GBX 340 ($4.52). The stock had a trading volume of 2,021,568 shares, compared to its average volume of 8,435,666. The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82. The firm has a 50 day simple moving average of GBX 265.48 and a 200-day simple moving average of GBX 277.58. The firm has a market capitalization of £2.85 billion, a P/E ratio of -12.94 and a beta of 1.85. Ocado Group has a 1-year low of GBX 222.10 ($2.95) and a 1-year high of GBX 493.95 ($6.56).

Ocado Group Company Profile

Ocado Group is a UK based technology company that provides end-to-end online grocery fulfilment solutions, known as the Ocado Smart Platform, to some of the world's largest grocery retailers and holds a 50% share of Ocado Retail Ltd in the UK in a Joint Venture with Marks & Spencer. OSP comprises access to Ocado's physical infrastructure solutions, running highly efficient warehouse operations for the single pick of products, together with the entire end-to-end proprietary software applications required to operate a world class online grocery business.