Ocado Group PLC (LSE:OCDO) had its share price target left unchanged by Deutsche Bank, even though the share price took a beating yesterday after a new delay to its tech-based warehouse rollout in Canada.
Empire Company announced yesterday a pause to the planned go-live of retail arm Sobey’s CFC4 in Vancouver (originally planned for 2025).
The go-live timeline for the Vancouver CFC will be under regular review, and the site will be able to commission quickly when required as construction of the external building has been substantially completed.
Alongside this pause, Ocado and Sobeys have agreed to end terms related to mutual exclusivity, slightly before it was originally estimated to end.
Guidance for 2024 remained unchanged and so does Deutsche Bank’s target of 610p.
Shares today were up 2.4% at 317.6p.