UPDATE: Credit Suisse Raises PT on Kroger to $28

Credit Suisse raises its price target on Outperform-rated Kroger KR to $28 from $26 on share gain acceleration for Q4. Credit Suisse says, "(+) ID growth (ex-fuel) of 4.9% was better than cons. of 4.4%, and flat with Q3 results. This strong trend has continued into Q1, despite tougher weather comparisons. (+) FIFO GM% (ex-fuel) was down 47 bps YOY, but better than we and the street had expected. (+) KR continues to gain share in the majority of its markets, including those with WMT overlap. (-) SG&A was up 4.9% in Q4, slightly higher than expected given strong cost control seen in Q3. (-) Mgmt's Q1-12 guidance of "flat to slightly up" EPS growth was somewhat disappointing (consensus was +10%), but reflects tougher YOY margin comparisons." Q4 closed at $24.44 a share on Thursday.