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UPDATE: Deutsche Bank Raises PT on Kroger Following Solid 1Q Results

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UPDATE: Citigroup Initiates Coverage On Kroger As Highest Conviction Stock Pick
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In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Kroger (NYSE: KR), and raised the price target from $35.00 to $37.00.

In the report, Deutsche Bank noted, “KR reported a solid 1Q, with EPS coming in $0.03 above the Street. Overall, it was a high-quality beat, with non-fuel ID's up +3.3% vs. +2.9% Consensus. Despite the beat (and modest EPS raise), KR fell 6% in a tough tape (-2.5% for the S&P), as the shares had significantly outperformed YTD, and investors took the opportunity to lock-in gains. The post-earnings weakness appears to be overdone given our view that KR remains very well positioned to deliver sustained share gains and low DD EPS growth. At 10.6x our FY14E EPS, valuation looks attractive. Buy.”

Kroger closed on Thursday at $32.98.

Latest Ratings for KR

DateFirmActionFromTo
Dec 2014CitigroupInitiates Coverage onBuy
Dec 2014Credit SuisseMaintainsNeutral
Dec 2014JefferiesMaintainsHold

View More Analyst Ratings for KR
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Greg PooleAnalyst Color Price Target Analyst Ratings

 

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