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The latest update is out from Tesco plc ( (GB:TSCO) ).
Tesco PLC announced the purchase and cancellation of 1,320,860 ordinary shares as part of its £700 million share buyback program, reflecting its ongoing commitment to returning value to shareholders. This transaction reduces the total number of shares in issue to 6,556,987,319, which is relevant for shareholders and stakeholders in calculating their interests under the Disclosure and Transparency Rules.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £3.75 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’s strong financial performance and strategic share buyback program are the primary drivers of its positive stock score. Technical indicators support a bullish outlook, although the valuation requires further scrutiny. Overall, Tesco’s proactive capital management and market confidence contribute significantly to its investment appeal.
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, electronics, and financial services, with a strong market presence in the UK and other countries.
Average Trading Volume: 20,142,671
Technical Sentiment Signal: Buy
Current Market Cap: £27.79B
See more data about TSCO stock on TipRanks’ Stock Analysis page.