Market Overview

UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Safeway on 4Q12 EPS

Related SWY
11 Activist Investors Who Have Shaped The Market
U.S. Grocers Battening Down The Hatches As German Retailers Roll In

In a report published Friday, BMO Capital Markets reiterated its Outperform rating on Safeway (NYSE: SWY), and raised its price target from $25.00 to $28.00.

BMO Capital Markets noted, “SWY reported 4Q12 EPS from continuing operations of $1.06, or $0.94 ex. a $0.12 gain vs. consensus of $0.76. Adjusted EPS benefitted ~$0.03 from a lower tax rate. FY12 EPS came in at $2.17 (or $2.29 including the settlement) above guidance of $1.90-$2.10. As a reminder, guidance always included property gains and the legal settlement. Most importantly, core operating profit ex. net property gains in both years was up 9.3%, while volumes were positive for the first time in ~5+ years.”

Safeway closed on Thursday at $22.97.

Latest Ratings for SWY

Apr 2014Cantor FitzgeraldMaintainsHold
Apr 2014Deutsche BankMaintainsHold
Apr 2014JefferiesMaintainsHold

View More Analyst Ratings for SWY
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings


Related Articles (SWY)

View Comments and Join the Discussion!

Get Benzinga's Newsletters