UPDATE: Jefferies Cuts PT to $6.50 on SUPERVALU; Results Slow to Come

Jefferies lowers its price target from $8 to $6.50 on Hold-rated SUPERVALU

, according to a recent report. Jefferies comments, "SVU continues to focus on lowering relative price gaps as well as increasing its hyper-local merchandising efforts. However, it is likely some time before meaningful and sustained improvement is seen from these efforts (perhaps never if competitors respond), suggesting SVU, if possible, should consider more creative/aggressive actions with both the capital structure and assets." SVU closed at $6.19 on Friday.