These Analysts Cut Their Forecasts On Grocery Outlet Following Q2 Results
Portfolio Pulse from Avi Kapoor
Grocery Outlet Holding Corp (NASDAQ:GO) reported better-than-expected Q2 results, with earnings of 25 cents per share and sales of $1.13 billion. Despite the positive results, analysts from Telsey Advisory Group and UBS lowered their price targets for the stock. The company also announced plans for 62-64 new store openings in FY24.
August 07, 2024 | 4:20 pm
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Grocery Outlet reported better-than-expected Q2 results with 25 cents EPS and $1.13 billion in sales. Despite the positive performance, analysts from Telsey Advisory Group and UBS lowered their price targets. The company also plans 62-64 new store openings in FY24.
While Grocery Outlet reported strong Q2 results, the lowering of price targets by analysts suggests mixed sentiment. The positive earnings and sales are offset by cautious future outlooks from analysts, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100