UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on The Kroger Co. Following Solid 1Q Results

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on

, 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.” The Kroger Co. closed on Thursday at $32.98.