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Tesco plc (TSCO) Receives a Buy from J.P. Morgan

Tipranks - Tipranks - Tue Jan 13, 8:32PM CST

J.P. Morgan analyst Borja Olcese reiterated a Buy rating on Tesco plc yesterday and set a price target of p480.00.

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Olcese covers the Consumer Defensive sector, focusing on stocks such as Koninklijke Ahold Delhaize N.V., J Sainsbury plc, and Jeronimo Martins SGPS. According to TipRanks, Olcese has an average return of 9.9% and a 61.57% success rate on recommended stocks.

In addition to J.P. Morgan, Tesco plc also received a Buy from UBS’s Sreedhar Mahamkali in a report issued on January 9. However, yesterday, RBC Capital maintained a Hold rating on Tesco plc (LSE: TSCO).

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Based on Tesco plc’s latest earnings release for the quarter ending August 23, the company reported a quarterly revenue of p36.04 billion and a net profit of p950 million. In comparison, last year the company earned a revenue of p34.77 billion and had a net profit of p1.05 billion

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is neutral on the stock.

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