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An announcement from Tesco plc ( (GB:TSCO) ) is now available.
Tesco PLC has announced the purchase of 2,689,229 ordinary shares as part of its £1.45 billion share buyback program, with the shares being cancelled to reduce the number of shares in circulation. This move, following previous purchases, aims to enhance shareholder value and reflects the company’s commitment to returning capital to shareholders, impacting the company’s share structure and potentially its market position.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £507.00 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 overall stock score reflects a stable financial performance with some challenges in revenue growth and cash flow. The technical analysis suggests a positive momentum, and the valuation is fair. The earnings call provided a positive outlook with raised profit guidance, and the significant share buyback program enhances shareholder value.
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 UK, primarily engaged in the grocery and general merchandise industry. It operates a chain of supermarkets and hypermarkets, focusing on providing a wide range of food and non-food products to consumers across various markets.
Average Trading Volume: 15,736,260
Technical Sentiment Signal: Buy
Current Market Cap: £28.95B
Learn more about TSCO stock on TipRanks’ Stock Analysis page.