Morningstar15 Jan 2025 12:37
We maintain our 920p per share fair value estimate for no-moat Ocado Retail OCDO after the firm’s trading statement for the 13 weeks to Dec. 1, 2024 was in line with our expectations.
Even with shares up nearly 10% to 296p following the announcement, the stock continues to trade in 5-star territory.
We continue to hold our view that Ocado Retail is well-positioned to capture share as online grocery penetration increases.