Jefferies Nervously Bullish On Safeway (SWY)

Safeway SWY pricing surveys in Los Angeles and Chicago cause Jefferies to take a "nervously bullish" stance on Safeway stock in a research report published today. In the report, Jefferies states, "While our surveys in L.A. and Chicago revealed price stability, a welcome sign, Safeway appeared to buck this trend. Additional channel checks, including our recent store manager survey, however, suggest that this is likely the result of modestly better business trends funding a slightly more competitive stance in certain markets." Safeway shares are currently trading at $21.18, up 0.14% from Thursday's market close.