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Tesco plc ( (GB:TSCO) ) just unveiled an announcement.
Tesco PLC announced the purchase of 886,706 ordinary shares as part of its £1.45 billion share buyback program, with shares being cancelled to reduce the total number of shares in circulation. This strategic move, conducted through Goldman Sachs International, is part of a broader effort to enhance shareholder value and optimize the company’s capital structure, reflecting Tesco’s ongoing commitment to returning capital to shareholders.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £440.00 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 retailer headquartered in the United Kingdom, primarily engaged in the grocery and general merchandise sector. It operates a chain of supermarkets and hypermarkets, focusing on providing a wide range of products to consumers across various markets.
Average Trading Volume: 14,726,219
Technical Sentiment Signal: Buy
Current Market Cap: £29.23B
See more data about TSCO stock on TipRanks’ Stock Analysis page.