Tesco (TSCO) Upgraded at Independent Research

Independent Research upgraded shares of Tesco (LON:TSCO) to a hold rating in a report published on Friday morning. Independent Research currently has GBX 240 ($3.44) price objective on the retailer’s stock, up from their previous price objective of GBX 165 ($2.36).

A number of other brokerages also recently issued reports on TSCO. Shore Capital restated a buy rating on shares of Tesco in a report on Thursday, March 1st. Deutsche Bank restated a buy rating and set a GBX 240 ($3.44) price target on shares of Tesco in a report on Wednesday, February 7th. Beaufort Securities restated a hold rating and set a GBX 225 ($3.22) price target (up previously from GBX 210 ($3.01)) on shares of Tesco in a report on Monday, January 29th. Jefferies Group upgraded shares of Tesco to a buy rating and set a GBX 250 ($3.58) price target for the company in a report on Monday, March 5th. Finally, JPMorgan Chase reaffirmed an overweight rating and set a GBX 265 ($3.79) price objective on shares of Tesco in a research report on Thursday, March 15th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of GBX 225.29 ($3.23).

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Shares of LON TSCO opened at GBX 233.70 ($3.35) on Friday. Tesco has a 1 year low of GBX 165.35 ($2.37) and a 1 year high of GBX 217.31 ($3.11).

The business also recently disclosed a dividend, which will be paid on Friday, June 22nd. Investors of record on Thursday, May 17th will be given a dividend of GBX 2 ($0.03) per share. The ex-dividend date is Thursday, May 17th. This represents a dividend yield of 0.89%. This is a boost from Tesco’s previous dividend of $1.00.

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About Tesco

Tesco PLC, together with its subsidiaries, operates as a grocery retailer. The company also provides retail banking and insurance services. It has operations in the United Kingdom, the Republic of Ireland, the Czech Republic, Hungary, Poland, Slovakia, Malaysia, Thailand, and internationally. The company serves its customers through 6,902 stores, as well as online.

Analyst Recommendations for Tesco (LON:TSCO)

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