JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Tesco (LON:TSCO) Stock

Tesco (LON:TSCO) had its target price raised by investment analysts at JPMorgan Chase & Co. from GBX 450 to GBX 500 in a research note issued to investors on Friday,Digital Look reports. The brokerage currently has an “overweight” rating on the retailer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 10.38% from the company’s current price.

Other analysts have also recently issued reports about the stock. Shore Capital reiterated a “buy” rating on shares of Tesco in a research note on Thursday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 440 price objective on shares of Tesco in a research report on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Tesco from GBX 470 to GBX 495 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 473.75.

Tesco Price Performance

LON TSCO traded up GBX 1 during trading hours on Friday, hitting GBX 453. The company had a trading volume of 14,028,531 shares, compared to its average volume of 18,189,377. 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 market capitalization of £29.17 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.43 and a beta of 0.51. Tesco has a 52 week low of GBX 310.30 and a 52 week high of GBX 480.90. The firm has a 50 day simple moving average of GBX 450.81 and a 200 day simple moving average of GBX 425.46.

Tesco (LON:TSCO) last announced its quarterly earnings results on Thursday, October 2nd. The retailer reported GBX 15.61 earnings per share for the quarter. Tesco had a return on equity of 11.33% and a net margin of 1.92%. Equities research analysts expect that Tesco will post 27.374848 earnings per share for the current year.

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.