1020 GMT - Ocado's investors have many reasons to be optimistic as previous concerns about the company's prospects begin to dissipate, J.P. Morgan Cazenove analysts Marcus Diebel and Carmen Graves say. The company is benefiting from a quick improvement in profit margins in both retail and solution segments, which is boosting free cash flow generation and could be used to reduce debt, they say in a note. The online grocer and retail-technology specialist should see a rise in new deals as the adoption pace of the online grocery shopping picks up, they add. JPM Cazenove upgrades the stock recommendation to overweight from neutral and price target to 400.0 pence from 340.0 pence, saying that the current price doesn't reflect Ocado's current guidance of 150 customer fulfillment modules by 2027. Shares are up more than 14% at 284.9 pence. (michael.susin@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 06:21 ET (10:21 GMT)
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