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Tesco plc ( (GB:TSCO) ) has issued an update.
Tesco PLC announced the purchase of 907,000 ordinary shares as part of its ongoing £1.45 billion share buyback program. The shares, bought at an average price of 443.11 pence, will be cancelled, reducing the total number of shares in issue to 6,506,353,377. This move is part of Tesco’s strategy to return value to shareholders and optimize its capital structure.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £5.00 price target. To see the full list of analyst forecasts on Tesco plc stock, see the GB:TSCO Stock Forecast page.
Spark’s Take on GB:TSCO Stock
According to Spark, TipRanks’ AI Analyst, GB:TSCO is a Outperform.
Tesco’s strong financial performance and strategic share buyback program are the most significant factors contributing to its high score. The technical analysis and valuation indicate a stable market position, while the absence of recent earnings call data limits further insights.
To see Spark’s full report on GB:TSCO stock, click here.
More about Tesco plc
Tesco PLC is a leading multinational grocery and general merchandise retailer based in the United Kingdom. It operates in the retail industry, offering a wide range of products including food, clothing, electronics, and financial services, with a strong market presence in the UK and several other countries.
Average Trading Volume: 14,470,397
Technical Sentiment Signal: Buy
Current Market Cap: £29.09B
For detailed information about TSCO stock, go to TipRanks’ Stock Analysis page.