Grocery Outlet To Gain From Defensive Product Mix In Q2 Amid Improvement In Product Assortment: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Grocery Outlet Holding Corp. (NASDAQ:GO), raising the price target to $40 from $34. The analyst expects Grocery Outlet to benefit from its defensive product mix, value-focused offering, and multi-year store growth. The company is also expected to gain from strategic initiatives, including new store openings, improvement in the product assortment, and partnerships to provide an online offering.
August 04, 2023 | 12:00 pm
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Grocery Outlet's stock is expected to perform well due to its defensive product mix, strategic initiatives, and store growth. The company's price target has been raised to $40 from $34 by Telsey Advisory Group.
The analyst from Telsey Advisory Group has reiterated an Outperform rating on Grocery Outlet and raised the price target, indicating a positive outlook for the company. The company's defensive product mix, strategic initiatives, and store growth are expected to contribute to its performance. This is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100