UPDATE: Deutsche Bank Raises PT on The Kroger Co. on Very Good 4Q Results
In a report published Friday, Deutsche Bank reiterated its Buy rating on The Kroger Co. (NYSE: KR), and raised its price target from $28.00 to $35.00.
Deutsche Bank noted, “4Q Caps A Strong Year – And 2013 Looks Positive, Too; Buy. KR reported much better-than-expected 4Q results and gave above-Consensus EPS guidance that reflects the positive momentum in the business. All in, +3.0% non-fuel ID's marked the 37th consecutive quarter of growth, a testament to KR's competitive advantages, including its scale, strong local market shares, and the ability to leverage insights from its loyalty card data and dunnhumbyUSA JV. While KR shares have outperformed YTD (+16.3% vs. +8.3% S&P), we still see upside to the shares as KR continues to execute at a high level. Buy.”
The Kroger Co. closed on Thursday at $30.25.
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