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Tesco plc ( (GB:TSCO) ) has provided an update.
Tesco PLC announced the purchase of 2.5 million of its own shares as part of a £1.45 billion share buyback program, with the shares to be cancelled. This transaction, executed through Goldman Sachs International, reflects Tesco’s ongoing efforts to enhance shareholder value and manage its capital structure effectively, reducing the total number of shares in circulation and potentially increasing earnings per share.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £501.00 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 plc’s strong financial performance and positive earnings call sentiment are the most significant factors driving the score. The technical analysis supports a bullish outlook, while the valuation suggests a premium price. Overall, Tesco is well-positioned for growth, but maintaining financial discipline will be crucial.
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 headquartered in the United Kingdom. It operates a chain of supermarkets and hypermarkets, providing a wide range of products including food, clothing, electronics, and financial services, with a significant market presence in the UK and several other countries.
Average Trading Volume: 14,721,474
Technical Sentiment Signal: Buy
Current Market Cap: £28.55B
See more insights into TSCO stock on TipRanks’ Stock Analysis page.