Ocado’s stock price has surged more than one-third today as investors reward the company’s exclusive partnership with Lotte Shopping of South Korea. The deal involves the construction of six warehouses by 2028. If one excludes Ocado’s small contract with Auchan (in Spain and Poland), the last big catch was more than 30 months ago. We reiterate our view that Ocado is well equipped to add new clients in the international arena. Positive recommendation maintained.
