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OCDO - Ocado News Story

1239.5p 29.5  2.4%

Last Trade - 13/12/19

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £8.45bn
Enterprise Value £8.43bn
Revenue £1.69bn
Position in Universe 108th / 1844

BUZZ-Bernstein sees Ocado trading at 2,500 pence in 2 years; hikes PT

Fri 12th July, 2019 8:52am
** British online grocer Ocado  OCDO.L  shares rise 2.5% to
the top of FTSE 100  .FTSE  at 1,171 pence
    ** Ocado has the ability to trade at 2,500 pence in two
years, says Bernstein analyst Bruno Monteyne in a note titled
'Faster, Bigger, Better'
    ** Monteyne hikes PT on stock to 1,600 pence, which
represents ~37% upside to stock's current trading level
    ** Broker factors in the company's one-hour delivery service
 dubbed 'Ocado Zoom' as a key strategy for growth
    ** "For Ocado to remain a sustainable growth company a
decade and beyond, we need to see e-commerce penetration above
10% and Ocado Zoom will be essential in achieving that"
    ** Monteyne says Ocado's latest deals, including the one
with retailer Marks & Spencer  MKS.L  will improve operating
costs and lead to higher follow-up orders and new customers
    ** Monteyne rates the stock at 'outperform'; 7 of 16
brokerages rate the stock "buy" or higher, 4 rate it "hold" and
5 recommend selling the stock
    ** Median PT is 1,000 pence; stock has gained ~48% YTD

 (Reporting by Karina Dsouza in Bengaluru)
 ((Karina.Dsouza@thomsonreuters.com))
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