BofA Turns Bullish On Kroger - Read Why - Kroger (NYSE:KR)

BofA analysts Robert Ohmes and Kendall Toscano upgraded Kroger Co KR to Buy from Neutral with a price target of $75, up from $61, implying a 22% upside.
The analysts noted that elevated food inflation should continue for at least the next six months.
The analysts added that the price increases are passed on to the U.S. consumers, given a 6% year-over-year rise in hourly earnings.
They think that the broad-based inflation could drive consumers to retailers, seeking more variety as consumption shifts towards value.
Ohmes and Toscano believe the compounding inflation levels will result in a significant EPS upside for the retailer.
Price Action: KR shares are trading higher by 2.99% at $61.67 on the last check Friday.

Momentum78.50

Growth53.86

Quality72.85

Value57.37

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BofA Turns Bullish On Kroger - Read Why