Tesco share price: what’s the latest ahead of its Q3 and Christmas trading update?
The supermarket chain will unveil its third quarter and Christmas trading update on Thursday, with a strong set of results capable of propelling its share price higher.
Tesco is set to unveil its third-quarter (Q3) and Christmas trading update on Thursday, with a strong set of results capable of sending its shares higher.
Investors are hoping that the Christmas period will help bolster Tesco’s Q3 performance after UK supermarkets saw sales growth slow in the 12 weeks to 1 December.
The slump in sales was caused by uncertainty over the general election, a ‘lacklustre’ Black Friday and a wet autumn delaying consumers Christmas preparations, according to research carried out by Kantar.
Looking to trade Tesco and other UK stocks? Open a live or demo account with IG.
Jefferies upbeat about Tesco’s price trajectory
Analysts from Jefferies reiterated their ‘buy’ rating for the stock in December and issued a 310p price target.
Based on Tesco trading at 253p a share as of 14:40 GMT on Monday analysts at the US-based investment bank believe that the stock has a potential upside of 22.5%.
You can go long or short Tesco with IG using derivatives like CFDs.
Tesco slashes prices in January to drive new year sales
To help entice cash-strapped customers through its doors after the expensive Christmas period, Tesco has slashed prices on hundreds of products in January.
The move is part of its centenary celebrations, with the supermarket chain marking ‘100 Years of Great Value’.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
