Tesco PLC (NASDAQ:TSCDY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
According to Zacks, “TESCO PLC., is the UK’s largest retailer and one of the world’s leading international retailers. Tesco has reached this position through consistent focus on their four part strategy for growth: Tesco has a strong, growing core UK business offering customers excellent value, choice and convenience; Tesco aims to be as strong in non-food as it is in food; Tesco follows the customer into new areas like retailing services such as financial products (Tesco Personal Finance), internet shopping (Tesco.com) and telecoms (Tesco telecom offers mobile, fixed line and broadband services) & Tesco is a leading international retailer with a long term strategy for growth. Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. “
A number of other research firms have also recently issued reports on TSCDY. Citigroup Inc. reissued a “buy” rating on shares of Tesco PLC in a research note on Monday, September 12th. Beaufort Securities reissued a “hold” rating on shares of Tesco PLC in a research note on Saturday, June 25th. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Tesco PLC in a research note on Tuesday, August 23rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Tesco PLC in a research note on Wednesday, July 27th. Finally, HSBC cut shares of Tesco PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Tesco PLC currently has an average rating of “Hold” and an average target price of $7.75.
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Shares of Tesco PLC (NASDAQ:TSCDY) opened at 7.04 on Friday. Tesco PLC has a 52 week low of $6.00 and a 52 week high of $9.38. The stock has a 50 day moving average of $6.44 and a 200 day moving average of $7.05. The stock has a market cap of $19.08 billion and a P/E ratio of 102.03.
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, Thailand and Turkey, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.
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