What’s Ahead for Tesco PLC After Reaching 52-Week High?

 What's Ahead for Tesco PLC After Reaching 52 Week High?

The stock of Tesco PLC (LON:TSCO) hit a new 52-week high and has GBX 321.99 target or 50.00% above today’s GBX 214.66 share price. The 9 months bullish chart indicates low risk for the GBX 18.50 billion company. The 1-year high was reported on Nov, 16 by Barchart.com. If the GBX 321.99 price target is reached, the company will be worth GBX 9.25 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 1.08% or GBX 2.34 on November 16, hitting GBX 214.66. About 32.35 million shares traded hands. Tesco PLC (LON:TSCO) has risen 19.92% since April 18, 2016 and is uptrending. It has outperformed by 15.24% the S&P500.

Tesco PLC (LON:TSCO) Ratings Coverage

Out of 25 analysts covering Tesco PLC (LON:TSCO), 7 rate it a “Buy”, 6 “Sell”, while 12 “Hold”. This means 28% are positive. Tesco PLC has been the topic of 195 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Tesco PLC (LON:TSCO) earned “Neutral” rating by Nomura on Tuesday, February 16. Societe Generale maintained the shares of TSCO in a report on Wednesday, October 7 with “Hold” rating. The company was maintained on Monday, February 15 by Bernstein. Barclays Capital maintained Tesco PLC (LON:TSCO) rating on Friday, January 15. Barclays Capital has “Overweight” rating and GBX 190 price target. The company was maintained on Monday, October 3 by JP Morgan. The stock has “Buy” rating given by Citigroup on Monday, September 12. On Wednesday, January 20 the stock rating was maintained by HSBC with “Buy”. The stock has “Buy” rating given by Citigroup on Thursday, March 24. The stock has “Underperform” rating given by Credit Suisse on Friday, October 9. On Thursday, August 20 the stock rating was maintained by Bernstein with “Outperform”.

Tesco PLC is a retail company. The company has a market cap of 18.50 billion GBP. The Firm is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services. It has a 73.14 P/E ratio. The Company’s divisions include UK & ROI, which includes the United Kingdom and Republic of Ireland, International, which includes Czech Republic, Hungary, Poland, Slovakia, Malaysia, Thailand and Turkey, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.

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