Tesco PLC (TSCO) Cut to Underperform at BNP Paribas

Tesco PLC (LON:TSCO) was downgraded by BNP Paribas to an “underperform” rating in a research report issued to clients and investors on Wednesday. They presently have a GBX 165 ($2.13) price target on the retailer’s stock. BNP Paribas’ price objective would indicate a potential downside of 10.83% from the company’s previous close.

Several other analysts have also weighed in on TSCO. Bryan, Garnier & Co reaffirmed a “sell” rating and set a GBX 170 ($2.20) price objective on shares of Tesco PLC in a report on Tuesday. HSBC Holdings plc reissued a “buy” rating on shares of Tesco PLC in a report on Wednesday, September 6th. Shore Capital reissued a “hold” rating on shares of Tesco PLC in a report on Tuesday, August 22nd. Deutsche Bank AG reissued a “buy” rating and issued a GBX 240 ($3.10) price target on shares of Tesco PLC in a report on Wednesday, June 7th. Finally, Credit Suisse Group reissued an “underperform” rating and issued a GBX 145 ($1.87) price target on shares of Tesco PLC in a report on Tuesday, August 29th. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 191.31 ($2.47).

Tesco PLC (LON TSCO) opened at 181.55 on Wednesday. The company’s market capitalization is GBX 14.80 billion. The company has a 50-day moving average price of GBX 180.56 and a 200-day moving average price of GBX 180.80. Tesco PLC has a one year low of GBX 161.20 and a one year high of GBX 219.40.

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In related news, insider John Allan acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were acquired at an average cost of GBX 171 ($2.21) per share, with a total value of £34,200 ($44,168.93). Insiders purchased a total of 20,307 shares of company stock worth $3,475,138 over the last ninety days.

About Tesco PLC

Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services. The Company’s segments include UK & ROI, which includes the United Kingdom and Republic of Ireland; International, which includes Czech Republic, Hungary, Poland, Slovakia, Malaysia and Thailand, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.

Analyst Recommendations for Tesco PLC (LON:TSCO)

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