Tesco price target raised, placed on ‘Positive Catalyst Watch’ at JPMorgan

JPMorgan raised the firm’s price target on Tesco (TSCDY) to 450 GBp from 400 GBp and keeps an Overweight rating on the shares, which the analyst also placed on “Positive Catalyst Watch” ahead of earnings due on October 2. The firm raised first half estimates by 17%, FY26 by 7% and FY27 onwards by an average of 4%, putting its forecasts “comfortably above guidance,” the analyst tells investors.