Ocado Group target lowered, placed on ‘negative Catalyst Watch’ at JPMorgan

JPMorgan analyst Marcus Diebel lowered the firm’s price target on Ocado Group to 400 GBp from 450 GBp and keeps an Underweight rating on the shares, which the firm placed on “negative Catalyst Watch” into first half results due on July 18. The firm believes Ocado’s online grocery activities will continue to face “meaningful headwinds in the next months,” the analyst tells investors.