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UPDATE: Citigroup Raises PT on The Kroger Co. Following Meeting with CEO

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In a report published Wednesday, Citigroup analyst Deborah L. Weinswig reiterated a Buy rating on The Kroger Co. (NYSE: KR), and raised the price target from $44.00 to $47.00.

In the report, Citigroup noted, “Mgmt. remains upbeat about growth opportunities (both physical and online), reinforcing our view that KR is the top supermarket operator. We had the unique opportunity to meet with CEO Dave Dillon following his year-end retirement announcement. We also toured a Kroger Marketplace store in Hebron, KY. Against the backdrop of a fragile and slow consumer environment, we believe KR's steady approach to building loyalty will continue to bolster its competitive position. We reiterate our Buy and are raising our target price to $47, up from $44 prev.”

The Kroger Co. closed on Tuesday at $40.85.

Latest Ratings for KR

DateFirmActionFromTo
May 2017Loop CapitalInitiates Coverage OnHold
Mar 2017UBSInitiates Coverage OnNeutral
Mar 2017RBC CapitalUpgradesSector PerformOutperform

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Posted-In: Citigroup Deborah L. WeinswigAnalyst Color Price Target Analyst Ratings

 

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