Coles Group (OTCMKTS:CLEGF) Shares Up 7% – What’s Next?

Coles Group Limited (OTCMKTS:CLEGF)’s share price shot up 7% during trading on Monday . The company traded as high as $16.00 and last traded at $16.00. 485 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 562 shares. The stock had previously closed at $14.96.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group initiated coverage on shares of Coles Group in a report on Monday, January 19th. They set a “neutral” rating and a $23.00 price target for the company. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.

Coles Group Trading Up 7.0%

The firm’s fifty day moving average price is $15.88 and its 200-day moving average price is $15.23.

About Coles Group

Coles Group Ltd. (OTCMKTS:CLEGF) is a leading Australian retailer headquartered in Melbourne. The company operates one of the country’s largest supermarket chains under the Coles banner, complemented by an extensive liquor division and a network of convenience and fuel outlets. Coles Group’s core mission centers on providing a broad range of food, everyday household products and services to customers across urban and regional Australia.

Coles Group’s supermarket operations encompass both brick-and-mortar stores and an online grocery delivery platform, supported by a nationwide logistics and distribution network.