Tesco (TSCO) Share Price Outlook London Stock Exchange 22 Oct, 2014
Tesco (TSCO) opened today at 186.50 and took an immediate plunge to 183.19. Since then the stock has been struggling to regain the lost ground. The trading day’s latest events come following a substantial track record of downward movement from the grocer, clothing, and general merchant.
Despite a year of slumping performance the stock is regarded widely as a hold in the eyes of brokers and analysts, with few varying either way of the midpoint.
Recently Tesco released a report on the grocer’s projected turnaround plan, expected to take six years and £3bn to implement. This news comes after the details released following the newest CEO’s multimillion-pound welcome bonus, earning the ire of many onlookers.
Kantar Worldpanel’s recently released grocery-market data that showcased Tesco’s highest sales performance since early summer, helping to mend the company’s waning image in the eyes of investors.