Goldman Sachs Reiterates Sell Rating, $21 PT for Kroger

In a company update published earlier today, The Goldman Sachs Group, Inc. reiterated its Sell rating and $21.00 price target for The Kroger Co. (NYSE: KR).

Goldman Sachs went on to say “On the heels of the release and conference call, KR shares rallied 6.1% (vs. +1.1% for the S&P500) as the better results and upwardly revised guidance exceeded low expectations and, in our view, reassured investors amidst an uncertain macro backdrop. However, we maintain our Sell rating as our price target continues to offer relative downside and underlying supermarket trends augur potential pressures in 2H12.”

The Kroger Co. closed yesterday at $22.58.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.