Tesco (LON:TSCO) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Tesco PLC stock surpassed its 200-day moving average at GBX 382.78 on Friday, trading as high as GBX 424.50 and closing at GBX 423.44.
• Citigroup has raised its price target for Tesco shares from GBX 395 to GBX 460, while the stock currently holds an average rating of "Buy" with a consensus target price of GBX 430.
• The company's market cap is £27.58 billion, with a significantly high price-to-earnings ratio of 1,801.12, indicating strong investor interest despite potential valuation concerns.

Tesco PLC (LON:TSCO - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 382.78 ($5.14) and traded as high as GBX 424.50 ($5.70). Tesco shares last traded at GBX 423.44 ($5.69), with a volume of 11,010,359 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on TSCO shares. JPMorgan Chase & Co. boosted their price objective on shares of Tesco from GBX 400 to GBX 450 and gave the company an "overweight" rating in a report on Monday. Citigroup lifted their target price on Tesco from GBX 395 to GBX 460 and gave the company a "buy" rating in a research report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tesco currently has a consensus rating of "Buy" and a consensus price target of GBX 455.

Tesco Stock Performance

The company has a market capitalization of £28.58 billion, a price-to-earnings ratio of 1,866.44, a P/E/G ratio of 1.43 and a beta of 0.51. 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 firm has a 50-day simple moving average of GBX 417.27 and a two-hundred day simple moving average of GBX 383.77.

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.