Ocado Group (OTCMKTS:OCDGF) Cut to “Reduce” at HSBC

HSBC cut shares of Ocado Group (OTCMKTS:OCDGFGet Rating) from a hold rating to a reduce rating in a research report report published on Tuesday, The Fly reports.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley initiated coverage on Ocado Group in a report on Tuesday, September 6th. They set an underweight rating and a $610.00 price objective on the stock. Barclays upgraded Ocado Group from an underweight rating to an equal weight rating and set a $740.00 price objective on the stock in a report on Thursday, September 8th. Credit Suisse Group cut Ocado Group from a neutral rating to an underperform rating in a report on Wednesday, September 14th. JPMorgan Chase & Co. decreased their price objective on Ocado Group from GBX 1,550 ($18.73) to GBX 850 ($10.27) in a report on Friday, May 27th. Finally, UBS Group decreased their price objective on Ocado Group from GBX 2,100 ($25.37) to GBX 950 ($11.48) and set a neutral rating on the stock in a report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $1,185.71.

Ocado Group Trading Up 0.6 %

Shares of OTCMKTS:OCDGF opened at $6.40 on Tuesday. The business’s fifty day moving average price is $9.50 and its two-hundred day moving average price is $11.26. Ocado Group has a one year low of $6.24 and a one year high of $25.75.

About Ocado Group

(Get Rating)

Ocado Group plc operates as an online grocery retailer in the United Kingdom and internationally. The company operates through three segments: Ocado Retail, UK Solutions & Logistics, and International Solutions. It also sells general merchandise products on its Ocado.com; provides online retail solutions; and offers customer fulfillment centre and logistics services.

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