Zacks Investment Research lowered shares of Tesco (OTCMKTS:TSCDY) from a buy rating to a hold rating in a research note released on Saturday morning.
According to Zacks, “TESCO PLC., is the UK’s largest retailer and one of the world’s leading international retailers. Tesco has reached this position through consistent focus on their four part strategy for growth: Tesco has a strong, growing core UK business offering customers excellent value, choice and convenience; Tesco aims to be as strong in non-food as it is in food; Tesco follows the customer into new areas like retailing services such as financial products (Tesco Personal Finance), internet shopping (Tesco.com) and telecoms (Tesco telecom offers mobile, fixed line and broadband services) & Tesco is a leading international retailer with a long term strategy for growth. Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. “
A number of other equities analysts have also recently issued reports on TSCDY. Jefferies Group upgraded Tesco from a hold rating to a buy rating in a report on Monday, March 5th. Barclays restated an overweight rating on shares of Tesco in a report on Tuesday, March 6th. Finally, Goldman Sachs upgraded Tesco from a sell rating to a buy rating in a report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Tesco presently has an average rating of Hold and a consensus price target of $9.75.
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Tesco Company Profile
Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services. The Company’s segments include UK & ROI, which includes the United Kingdom and Republic of Ireland; International, which includes Czech Republic, Hungary, Poland, Slovakia, Malaysia and Thailand, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.
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