Guggenheim Maintains Buy Rating for Albertsons Companies, Raises Price Target To $37

Guggenheim has decided to maintain its Buy rating of Albertsons Companies ACI and raise its price target from $34.00 to $37.00.

Shares of Albertsons Companies are trading up 4.41% over the last 24 hours, at $33.38 per share.

A move to $37.00 would account for a 10.84% increase from the current share price.

About Albertsons Companies

Albertsons is the second- largest traditional grocer in America, operating 2,277 stores under more than 20 banners in 34 states (as of the end of fiscal 2020). Around 75% of stores have pharmacies, while nearly 20% also sell fuel. Albertsons has a significant private-label operation, accounting for around 20% of sales (excluding fuel). While its own brand assortment is mainly manufactured by third parties, Albertsons operates 20 food production plants (as of the end of fiscal 2020). Albertsons is a top-two grocer in two thirds of its major markets (as of early 2021, according to company data), and virtually all of its sales come from the United States.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.