UPDATE: JP Morgan Raises PT to $26 on Kroger

A report from J.P. Morgan reiterates its Neutral rating and raises its price target from $25 to $26 on Kroger (NYSE: KR).

The report states, “Following Kroger's earnings release and conference call yesterday, we are raising our estimates and increasing our Dec-12 price target to $26 from $25. The company posted solid sales in the third quarter, and management raised full-year guidance. We note, however, that while we view the quarter relatively positively, the company's EBIT was still down 0.6% from last year.”

KR closed yesterday at $23.37.