JPMorgan Chase & Co. Downgrades Tesco (LON:TSCO) to Neutral

Tesco (LON:TSCOGet Free Report) was downgraded by investment analysts at JPMorgan Chase & Co. to a “neutral” rating in a report issued on Tuesday, Digital Look reports. They currently have a GBX 250 ($3.16) price objective on the retailer’s stock, down from their prior price objective of GBX 270 ($3.41). JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 2.50% from the stock’s current price.

Separately, Shore Capital reaffirmed a “buy” rating on shares of Tesco in a research note on Monday, July 3rd.

View Our Latest Stock Report on Tesco

Tesco Trading Down 2.8 %

Shares of Tesco stock traded down GBX 7.40 ($0.09) on Tuesday, reaching GBX 256.40 ($3.24). 29,871,600 shares of the company were exchanged, compared to its average volume of 16,979,379. Tesco has a fifty-two week low of GBX 194.35 ($2.45) and a fifty-two week high of GBX 285.30 ($3.60). The firm has a market capitalization of £18.28 billion, a price-to-earnings ratio of 2,564.00, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 123.29. The stock has a fifty day moving average price of GBX 254.14 and a 200-day moving average price of GBX 260.34.

About Tesco

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Tesco PLC, together with its subsidiaries, operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary. It offers grocery products through its stores, as well as online. The company is also involved in the food and drink wholesaling activities.

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