JP Morgan has increased its price target for Ocado Group PLC to 460p from 290p, indicating about 50% potential upside. The bank maintains an 'overweight' rating, citing improved operational performance and upcoming catalysts like customer fulfilment centre expansions between 2027 and 2029. These projects are expected to drive 21% annual growth in earnings before interest, tax, depreciation, and amortisation through 2028, supported by tighter cost control. Ocado's management aims for free cash flow break-even in late 2026, which could boost investor confidence. Additionally, the Ocado Retail joint venture with Marks & Spencer showed 15% revenue growth in H1, with further margin and capacity expansion opportunities. JP Morgan also noted a stronger balance sheet and no major refinancing needs for three years, and sees growing strategic interest in automated online grocery fulfilment systems amid efficiency challenges in store-based order picking.
Ocado Group PLC is noted for JP Morgan's forecast of about 50% upside potential. For readers following the Consumer Cyclical sector, here is Pluang's market snapshot as of Oct 20, 2026 21:22 WIB: out of 134 US stocks, 98 rose and 34 fell. Notable movers include Hasbro, Inc. (HAS) at USD 103.69 with a 5.45% gain and 100% sell order activity, General Motors Company (GM) at USD 78.35 down 5.32% with 100% buy order activity, and Li Auto Inc (LI) at USD 11.78 up 4.30% with 100% buy order activity.
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