Erste Group Reaffirms Their Buy Rating on Tesco plc (TSCO)
In a report released on May 4, Stephan Lingnau from Erste Group maintained a Buy rating on Tesco plc. The company’s shares closed yesterday at p480.75.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Lingnau covers the Consumer Cyclical sector, focusing on stocks such as McDonald’s, General Motors, and Toyota Motor. According to TipRanks, Lingnau has an average return of 8.5% and a 63.89% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tesco plc with a p513.89 average price target, representing a 6.89% upside. In a report released on April 20, Deutsche Bank also reiterated a Buy rating on the stock with a p525.00 price target.
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 71 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.
Read More on GB:TSCO:
