BofA Downgrades This Grocery Store Operator

by Shivani Kumaresan, Benzinga Staff Writer

January 19, 2022 8:34 AM | 28 seconds read | Make a Comment

BofA analyst Robert Ohmes downgraded Grocery Outlet Holding Corp GO to Underperform from Neutral with a price target of $23, down from $26.
The analyst expects the company to have challenges on sales and margins in 2022.
Ohmes added that the valuation of Grocery Outlet is extended based on its return on invested capital relative to its peers under his coverage.
Price Action: GO shares are trading lower by 2.79% at $24.74 in premarket on the last check Wednesday.