4 Supermarket Ratings Calls From Goldman
Goldman Sachs updated its ratings for four food retailers/supermarkets, describing the sector as "challenging end market."
"Grocery is a mature, low-growth sector characterized by relentless competition that appears to be intensifying. Industry sales are driven by inflation and correlated to employment, and we do not see an inflection in either relative to the current subdued backdrop," wrote Goldman.
- The Kroger Co (NYSE: KR): Upgraded to Buy with $42 price target (17 percent upside)
- Sprouts Farmers Market Inc (NASDAQ: SFM): Upgraded to Buy with $29 price target (24 percent upside)
- Whole Foods Market, Inc. (NASDAQ: WFM): Downgraded to Sell with $31 price target (10 percent downside)
- SUPERVALU INC. (NYSE: SVU): Neutral Rating with $5 price target (5 percent downside)
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