BMO Capital analyst Kelly Bania downgraded Kroger (KR) to Market Perform from Outperform with an unchanged price target of $60. The company remains on track to reiterate earnings targets for fiscal 2025 but valuation expansion beyond current levels would likely require stronger grocery market share trends and/or upward earnings revisions, the analyst tells investors in a research note. The firm says that while the pending Albertsons (ACI) merger still lacks clarity, it estimates the potential accretion from a deal or no-deal scenario is now largely reflected in Kroger shares.
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Read More on KR:
- KR Earnings this Week: How Will it Perform?
- Kroger price target raised to $65 from $55 at Melius Research
- Kroger price target raised to $65 from $62 at Telsey Advisory
- Kroger price target raised to $63 from $61 at Guggenheim
- Kroger names Mary Ellen Adcock chief merchandising and marketing officer
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
