Kroger To Gain From Long-Term Margin Support, Higher Customer Visits - Analyst Sees 'Attractive Entry Point'
Portfolio Pulse from Nabaparna Bhattacharya
Kroger (NYSE: KR) has received positive ratings from analysts at BofA Securities and BMO Capital Markets, despite some expected short-term pressures. BofA reiterated a Buy rating with a $70 price target, while BMO maintained an Outperform rating with a $60 price target. Kroger's first-quarter earnings showed increased customer visits and loyalty, and analysts see long-term margin support and market share growth.
June 21, 2024 | 6:01 pm
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BMO Capital Markets analyst Kelly Bania mentioned potential EPS accretion for Kroger under a deal or no-deal scenario with Albertsons Companies, Inc. (NYSE: ACI).
Albertsons was mentioned in the context of a potential deal with Kroger, which could impact EPS. However, the primary focus of the article is on Kroger's performance and ratings.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Kroger received a Buy rating from BofA Securities with a $70 price target and an Outperform rating from BMO Capital Markets with a $60 price target. Despite short-term pressures, analysts see long-term growth and margin support.
Both BofA and BMO analysts have reiterated positive ratings for Kroger, citing long-term margin support and market share growth. Despite some short-term pressures, the overall outlook remains positive, which is likely to boost investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100