Stephens & Co. Maintains Equal-Weight Rating for Kroger: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Stephens & Co. has maintained its Equal-Weight rating on Kroger (NYSE:KR) but lowered its price target from $52.00 to $50.00. Kroger's shares are currently trading at $44.20, down 0.15% over the last 24 hours. The new price target suggests a potential upside of 13.11%. Kroger, a leading American grocer, is in the process of acquiring Albertsons in a $25 billion deal, pending regulatory approval, expected to close in 2024.

December 01, 2023 | 5:00 pm
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Stephens & Co. maintains an Equal-Weight rating on Kroger with a reduced price target of $50, indicating a potential 13.11% increase from the current price. The ongoing acquisition of Albertsons could also influence Kroger's stock performance.
The maintenance of an Equal-Weight rating suggests a neutral outlook on Kroger's stock, while the lowered price target could indicate a slightly reduced growth expectation. However, the potential acquisition of Albertsons presents a significant development that could positively impact Kroger's market position and future growth, although it is subject to regulatory approval and is not expected to close until 2024. The short-term impact is likely to be neutral as the market absorbs the implications of the price target adjustment and the pending acquisition.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100