Market Overview

UPDATE: Deutsche Bank Raises PT on The Kroger Co. on Very Good 4Q Results

Related KR
Benzinga's M&A Chatter for Wednesday July 2, 2014
Markets Little Changed Ahead Of 4th Of July Break
Mid-Market Report: Kroger Buys Online Retailer Vitacost (Fox Business)

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.

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (KR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free