Market Overview

UPDATE: Goldman Sachs Upgrades Kroger Company to Neutral on M&A Potential

Share:
Related KR
Proceed With Caution In Kroger
A New ETF For Low Volatility Fans
The Monday Morning Kickoff - Re-Thinking Growth Prospects And Favoring Dividend Stocks (Seeking Alpha)

Goldman Sachs upgraded Kroger Company (NYSE: KR) from Sell to Neutral and raised the price target from $24.00 to $27.00.

Goldman Sachs said, "We are upgrading KR to Neutral from Sell based on (1) upward estimate revisions on improving second derivative industry growth that leave us more in line with consensus; (2) M&A is moving to the forefront, with KR positioned as a consolidator; and (3) a 10% total distribution yield makes KR the best social contract in our coverage. Since adding KR to the Sell List on 7/24/11, the stock is +11% vs. the S&P +13%. Note that the stock has outperformed sharply over the past several months as M&A conjecture has heated up (KR up 27% vs. S&P 500 up 8% since 9/1/12)."

Kroger Company closed at $28.20 on Friday.

Latest Ratings for KR

DateFirmActionFromTo
Jan 2016Credit SuisseMaintainsNeutral
Jan 2016Credit SuisseMaintainsNeutral
Dec 2015Wells FargoInitiates Coverage onOutperform

View More Analyst Ratings for KR
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (KR)

View Comments and Join the Discussion!

Get Benzinga's Newsletters