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Ocado: Berenberg upgrades to buy

(CercleFinance.com) - Berenberg analysts have upgraded their "hold" rating on the Ocado share to "buy", with a target price of 1,635 pence (35% upside potential).

In recent years, analysts say that Ocado has developed from being a British online food retailer to being a global provider of e-commerce solutions. Traditional food retailers are now being forced to review their online offer, which Ocado can help them with, thereby capitalising on its technological expertise, which it considers differentiates the group.

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