In a report published Monday, Goldman Sachs Group reiterated its Sell rating on The Kroger Company KR, and raised its price target from $21.00 to $23.00.
Goldman Sachs noted, “Kroger Co. (KR) hosted an investor conference in New York on October 16 where management raised its long-term EPS growth target from 6%-8% to 8%-11% (inclusive of buybacks). The new range reflected five factors: 1) management's confidence in the industry-leading position it has developed over the past decade; 2) increased capex towards new store growth, primarily in fill-in markets; 3) developing a digital presence; 4) leveraging insights to target the growing value-conscious customer; and 5) improving the core. Management also reiterated its FY12 ID sales (ex fuel) guidance of 3%-3.5% and noted that 3Q IDs and tonnage are currently trending above the run-rate at the start of the quarter.”
The Kroger Company closed on Friday at $25.13.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in