Deutsche Bank Increases Target Price on Shares of Safeway

Deutsche Bank Increased it target price from $25 to $28 after increased revenue on shares of Safeway (SWY). Deutsche bank reports, "Solid Q1 results; IDs continue to improve, expenses well-managed Q1 was solid, with EPS of $0.29 (ex-items), a penny above Consensus. IDs, exfuel, were up +0.4% and have nowimproved for 5 straight quarters. The competitive environment is rational, and food inflation is getting passed through to consumers with little resistance. Strong shrink mgmt and private label growth led to solid non-fuel GM expansion. Expenses continue to be well-managed. SWY remains very well-positioned to see improving sales, margin, and EPS growth in the quarters ahead. Valuation remains attractive." Shares of Safeway (SWY) closed at 24.61 yesterday.