Barclays upgrades Ocado to 'equalweight'
Ocado Group
353.10p
16:39 26/04/24
-2.54%
-9.20p
Barclays upgraded Ocado on Thursday to ‘equalweight’ from ‘underweight’ as it cut the price target to 775p from 1,500p, arguing that risks are more evenly balanced.
Food & Drug Retailers
3,956.27
16:59 26/04/24
1.04%
40.66
FTSE 100
8,139.83
17:09 26/04/24
n/a
n/a
FTSE 350
4,470.09
16:59 26/04/24
n/a
n/a
FTSE All-Share
4,423.59
17:14 26/04/24
n/a
n/a
"With retail sales set to improve, balance sheet concerns reduced for the time being and CFC (customer fulfilment centre) deal flow expectations tempered, we think the balance of upside and downside risks is now more evenly poised," the bank said.
"We value Ocado at 775p per share and hence move our stock rating from underweight to equalweight."