Kroger's 1Q23 Earnings Bolstered By Strategic Initiatives: Analyst Upholds Outperform Rating
Portfolio Pulse from Shivani Kumaresan
Kroger Co (NYSE:KR) reported strong 1Q23 earnings, maintaining its 2023 adjusted EPS guidance. Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating with a price target of $55. The strong performance was driven by a higher-than-anticipated operating margin of 3.5% and strategic initiatives.
June 15, 2023 | 5:57 pm
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Kroger's strong 1Q23 earnings were driven by a higher-than-anticipated operating margin of 3.5% and strategic initiatives. Analyst Joseph Feldman reiterated an Outperform rating with a price target of $55.
Kroger's strong earnings report and the analyst's reiteration of an Outperform rating with a $55 price target indicate a positive outlook for the company. The higher-than-expected operating margin and strategic initiatives, such as focus on fresh, digital growth, and efficient cost management, are likely to drive the stock price up in the short term.
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