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J.P. Morgan Sticks to Its Buy Rating for Tesco plc (TSCO)

Tipranks - Tipranks - Sat Apr 18, 12:24PM CDT

J.P. Morgan analyst Borja Olcese reiterated a Buy rating on Tesco plc today and set a price target of p500.00.

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According to TipRanks, Olcese is a 4-star analyst with an average return of 8.4% and a 58.52% success rate.

In addition to J.P. Morgan, Tesco plc also received a Buy from Barclays’s Matthew Clements in a report issued today. However, yesterday, Jefferies reiterated a Hold rating on Tesco plc (LSE: TSCO).

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Based on Tesco plc’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of p37.68 billion and a net profit of p837 million. In comparison, last year the company earned a revenue of p35.14 billion and had a net profit of p575 million

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSCO in relation to earlier this year.

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