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An announcement from Tesco plc ( (GB:TSCO) ) is now available.
Tesco PLC has announced the continuation of its £1.45 billion share buyback program, entering into an arrangement with Citigroup Global Markets Limited to repurchase ordinary shares on the London Stock Exchange and Cboe Europe Limited. The third tranche of this program will involve repurchasing shares worth up to £350 million, with the aim of reducing the company’s share capital. This move is part of Tesco’s ongoing strategy to enhance shareholder value and optimize its capital structure.
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 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, and electronics, with a significant focus on the UK market.
Average Trading Volume: 14,029,645
Technical Sentiment Signal: Buy
Current Market Cap: £28.15B
For a thorough assessment of TSCO stock, go to TipRanks’ Stock Analysis page.