Tesco (TSCO) Lifted to Hold at Independent Research

Independent Research upgraded shares of Tesco (LON:TSCO) to a hold rating in a report released on Friday morning. They currently have GBX 240 ($3.39) target price on the retailer’s stock, up from their prior target price of GBX 165 ($2.33).

A number of other brokerages have also commented on TSCO. Shore Capital reissued a buy rating on shares of Tesco in a report on Thursday, March 1st. Deutsche Bank reissued a buy rating and set a GBX 240 ($3.39) price objective on shares of Tesco in a report on Wednesday, February 7th. Beaufort Securities reissued a hold rating and set a GBX 225 ($3.18) price objective (up from GBX 210 ($2.97)) on shares of Tesco in a report on Monday, January 29th. Jefferies Group raised Tesco to a buy rating and set a GBX 250 ($3.53) price objective for the company in a report on Monday, March 5th. Finally, JPMorgan Chase reissued an overweight rating and set a GBX 265 ($3.75) price objective on shares of Tesco in a report on Thursday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of GBX 225.29 ($3.18).

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Shares of TSCO opened at GBX 233.60 ($3.30) on Friday. Tesco has a 52 week low of GBX 165.35 ($2.34) and a 52 week high of GBX 217.31 ($3.07).

The firm also recently announced a dividend, which will be paid on Friday, June 22nd. Stockholders of record on Thursday, May 17th will be paid a GBX 2 ($0.03) dividend. This represents a dividend yield of 0.89%. The ex-dividend date is Thursday, May 17th. This is an increase 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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