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Is Ocado really the ‘Microsoft of Retail’?
Stockbroker Peel Hunt has upgraded its price target for Ocado (OCDO) from 610p to £17, a stunning increase of 180%, in a hyper-bullish research note on the e-commerce tech platform entitled ‘The Microsoft of Retail’.
Ocado has rocketed into the FTSE 100 ranks after inking deals for access to its Ocado Smart Platform with retailers including US groceries giant Kroger, France’s Groupe Casino and Canada’s Sobeys.
Reiterating its ‘buy’ rating, Peel Hunt enthuses: ‘It doesn’t happen very often, but we believe Ocado Solutions has potential to become the “standard” platform for retail logistics across all sectors as the operating system of retail’, mirroring the market dominance of Microsoft’s Windows operating system.