Ocado, the British online grocer shares to increase tenfold

British online grocer Ocado Group, which has been shifting its focus to providing supermarket chains worldwide with technology systems, could see its share price appreciate tenfold by 2030, according to Bernstein analysts.

As consumers increasingly turn to online shopping for their groceries, Bernstein sees the potential for Ocado’s share price to be valued at between £40 and £100 on the assumption that more warehouses will be built globally to meet demand. The shares traded in London in the latest session at £10.61.