Ocado Group PLC (LON:OCDO) Coverage Initiated at Citigroup Inc.

Equities researchers at Citigroup Inc. initiated coverage on shares of Ocado Group PLC (LON:OCDO) in a research note issued to investors on Wednesday, August 30th. The brokerage set a “buy” rating and a GBX 400 ($5.17) price target on the stock. Citigroup Inc.’s target price would suggest a potential upside of 33.91% from the stock’s current price.

Several other research firms also recently issued reports on OCDO. Deutsche Bank AG reissued a “sell” rating and issued a GBX 220 ($2.84) price target on shares of Ocado Group PLC in a research note on Wednesday, June 28th. Numis Securities Ltd reissued a “buy” rating and issued a GBX 400 ($5.17) price target on shares of Ocado Group PLC in a research note on Monday, June 5th. Credit Suisse Group reissued an “outperform” rating on shares of Ocado Group PLC in a research note on Friday, July 21st. Shore Capital reissued an “under review” rating on shares of Ocado Group PLC in a research note on Wednesday, July 5th. Finally, HSBC Holdings plc reissued a “reduce” rating and issued a GBX 180 ($2.32) price target on shares of Ocado Group PLC in a research note on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of GBX 313.18 ($4.04).

Ocado Group PLC (OCDO) opened at 298.70 on Wednesday. Ocado Group PLC has a 1-year low of GBX 233.00 and a 1-year high of GBX 340.00. The stock has a 50 day moving average price of GBX 298.82 and a 200 day moving average price of GBX 279.19. The firm’s market capitalization is GBX 1.79 billion.

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In other Ocado Group PLC news, insider Emma Lloyd purchased 17,300 shares of Ocado Group PLC stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average price of GBX 285 ($3.68) per share, for a total transaction of £49,305 ($63,676.87). Insiders have purchased 17,405 shares of company stock valued at $4,960,563 in the last quarter.

Ocado Group PLC Company Profile

Ocado Group plc is a United Kingdom-based online grocery retailer. The Company’s principal activities are grocery retailing and the development and monetization of Intellectual Property (IP) and technology used for the online retailing, logistics and distribution of grocery and consumer goods, derived from the United Kingdom.

Analyst Recommendations for Ocado Group PLC (LON:OCDO)

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