Tesco (LON:TSCO) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Tesco's share price has recently crossed above its 200-day moving average, indicating a potential bullish trend, trading as high as GBX 443.80.
• Analysts are optimistic about Tesco, with brokerages like Citigroup and JPMorgan increasing their price targets, giving the stock a consensus rating of "Buy".
• The company currently has a market cap of £28.29 billion and a PE ratio of 1,853.68, signaling robust investor interest despite a recent slight decline in stock value.

Shares of Tesco PLC (LON:TSCO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 386.82 ($5.21) and traded as high as GBX 443.80 ($5.98). Tesco shares last traded at GBX 439.70 ($5.92), with a volume of 7,056,474 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TSCO shares. JPMorgan Chase & Co. lifted their price objective on shares of Tesco from GBX 400 to GBX 450 and gave the company an "overweight" rating in a research note on Monday, September 1st. Citigroup lifted their price objective on shares of Tesco from GBX 395 to GBX 460 and gave the company a "buy" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Tesco currently has an average rating of "Buy" and a consensus price target of GBX 455.

Tesco Price Performance

The stock's 50-day moving average is GBX 425.09 and its 200 day moving average is GBX 388.24. The stock has a market capitalization of £28.23 billion, a PE ratio of 1,849.43, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35.

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.