Ocado Group (LON:OCDO) was downgraded by investment analysts at Peel Hunt to a “hold” rating in a report released on Wednesday. They currently have a GBX 1,000 ($13.07) target price on the stock, down from their previous target price of GBX 1,700 ($22.21). Peel Hunt’s price objective would indicate a potential upside of 3.41% from the stock’s previous close.
OCDO has been the subject of several other reports. Numis Securities restated a “buy” rating and set a GBX 1,250 ($16.33) price objective on shares of Ocado Group in a research report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 750 ($9.80) price objective on shares of Ocado Group in a research note on Tuesday. Bank of America reissued a “buy” rating and issued a GBX 1,020 ($13.33) price objective on shares of Ocado Group in a research note on Tuesday, October 16th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Ocado Group in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 763.64 ($9.98).
Shares of LON:OCDO opened at GBX 967 ($12.64) on Wednesday. Ocado Group has a 12-month low of GBX 233.10 ($3.05) and a 12-month high of GBX 603.20 ($7.88).
About Ocado Group
Ocado Group plc operates as an online grocery retailer in the United Kingdom. It sells general merchandise products on its Ocado.com hypermarket through three specialty destination sites, including Fetch, a specialty pet store; Sizzle, a kitchen and dining store; and Fabled, a premium beauty store. The company also engages in the development and monetization of intellectual property and technology used for the online retailing, logistics, and distribution of grocery and consumer goods.
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