Tesco PLC (OTCMKTS:TSCDY – Get Free Report)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $19.01 and traded as low as $17.65. Tesco shares last traded at $17.90, with a volume of 235,888 shares changing hands.
Analysts Set New Price Targets
A number of brokerages have commented on TSCDY. Citigroup began coverage on shares of Tesco in a research report on Tuesday, May 5th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Tesco in a research report on Monday, April 13th. Morgan Stanley started coverage on shares of Tesco in a research report on Monday, May 18th. They issued an “overweight” rating on the stock. Erste Group Bank started coverage on shares of Tesco in a research report on Tuesday, May 5th. They issued a “buy” rating on the stock. Finally, Zacks Research raised shares of Tesco from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.
Read Our Latest Stock Analysis on TSCDY
Tesco Stock Up 0.8%
Tesco Company Profile
Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.
The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.
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