Ocado Group Stock News

British technology and online supermarket group ​Ocado on Thursday confirmed Danish online grocer nemlig ‌as the previously unnamed European retailer announced as its latest partner last month.

JP Morgan has raised its target price for Ocado Group PLC (LSE:OCDO) to 290p from 245p, arguing the market is valuing the technology group as if its customers were shutting warehouses rather than opening them. Marcus Diebel reiterated an overweight rating on the stock, which has fallen 7% so far this year against a 9% gain for the FTSE 100.

UBS has cut its price target on Ocado Group PLC (LSE:OCDO) to 230p from 340p, a 34% reduction that reflects less confidence in the timing and scale of new contract wins rather than any change to its neutral rating. The shares closed at 212p on Wednesday, leaving barely 9% of implied upside.

Britain's Ocado said on Tuesday it would build a ​large robotic warehouse for a fast-growing ‌European national retailer that it did not name, providing a boost to its ​embattled technology solutions business.

Ocado shares fell sharply on Thursday. The British technology and online grocery group's stock hit its lowest level in 13 years.

Ocado Group PLC (LSE:OCDO) reiterated its target to become cash flow positive in the second half of this year, despite it worsening in the first half. The FTSE 250 provider of warehouse automation systems for supermarkets reported stronger first-half trading, including renewed interest from retailers, but underlying cash outflow worsened to £147 million from £108 million a year earlier, excludi...

British technology and online grocery group Ocado said it ​was focused on winning new business ‌in the U.S., where it was talking to multiple retailers, as it stuck to forecasts for cash ​flow to turn positive.