Tesco (TSCO) Given Buy Rating at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Tesco (LON:TSCO) in a report published on Monday. They currently have a GBX 295 ($3.85) target price on the retailer’s stock.

A number of other research firms also recently issued reports on TSCO. Shore Capital reissued a buy rating on shares of Tesco in a research report on Wednesday, August 29th. Barclays reissued an overweight rating and set a GBX 280 ($3.66) price target on shares of Tesco in a research report on Thursday, October 4th. Deutsche Bank boosted their price target on Tesco from GBX 270 ($3.53) to GBX 275 ($3.59) and gave the company a buy rating in a research report on Monday, June 18th. HSBC reissued a buy rating on shares of Tesco in a research report on Thursday, July 5th. Finally, JPMorgan Chase & Co. reissued an overweight rating and set a GBX 265 ($3.46) price target on shares of Tesco in a research report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of GBX 268 ($3.50).

TSCO stock opened at GBX 210 ($2.74) on Monday. Tesco has a 12-month low of GBX 165.35 ($2.16) and a 12-month high of GBX 217.31 ($2.84).

The business also recently announced a dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, October 11th will be given a GBX 1.67 ($0.02) dividend. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, October 11th.

In related news, insider Alan Stewart bought 50,000 shares of the firm’s stock in a transaction dated Friday, October 5th. The stock was bought at an average price of GBX 214 ($2.80) per share, with a total value of £107,000 ($139,814.45). Insiders bought 50,110 shares of company stock valued at $10,727,584 in the last ninety days.

Tesco Company Profile

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, Ireland, the Czech Republic, Hungary, Poland, Slovakia, Malaysia, Thailand, and internationally. The company serves its customers through 6,809 stores, as well as online.

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Analyst Recommendations for Tesco (LON:TSCO)

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