Kroger shares are trading lower after Exane BNP Paribas downgraded the stock from Neutral to Underperform and announced a $48 price target.
Portfolio Pulse from Benzinga Newsdesk
Kroger's stock (KR) trades lower following a downgrade from Neutral to Underperform by Exane BNP Paribas, with a new price target set at $48.
April 08, 2024 | 7:55 pm
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NEGATIVE IMPACT
Kroger's stock trades lower after a downgrade by Exane BNP Paribas from Neutral to Underperform, with a price target of $48.
The downgrade by Exane BNP Paribas is a significant negative signal to investors, indicating a bearish outlook on Kroger's stock. The setting of a $48 price target, presumably lower than its current trading price, suggests an expectation of a decrease in stock value. This downgrade is likely to influence investor sentiment negatively in the short term, leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100