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

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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 2015Deutsche BankMaintainsBuy
Dec 2014CitigroupInitiates Coverage onBuy
Dec 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for KR
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

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