- Several analysts raised the price target on Kroger Co KR. Last week, the grocer reported third-quarter results that beat Wall Street view.
- Barclays analyst Karen Short raised the price target to $38 from $37 and kept an Underweight rating on the shares.
- Short said the company's results "were better than feared on several fronts."
- Morgan Stanley maintained Kroger with an Underweight and raised the price target to $37 from $34.
- Citi analyst Paul Lejuez raised the price target on Kroger to $47 from $43 and kept a Neutral rating on the shares following the "strong" quarter.
- Deutsche Bank analyst Krisztina Katai raised the firm's price target to $45 from $43 and kept a Hold rating on the shares.
- Proving the bears wrong once again, Kroger delivered a better than expected core margin, showcasing its ability to pass on cost increases to the consumer, Katai said.
- BMO Capital analyst Kelly Bania raised the firm's price target on Kroger to $41 from $39 but kept a Market Perform rating on the shares.
- The analyst cited the company's better than expected Q3 comps and margins, with "strong" ex-fuel gross margin, fuel profitability, and "solid" expense management as reasons for the raise.
- Meanwhile, she remains cautious on Kroger given risks with the company's Ocado strategy.
- Goldman Sachs maintained Kroger with a Sell and raised the price target from $35 to $39.
- Credit Suisse analyst Robert Moskow raised the price target on Kroger to $47 from $40 and kept a Neutral rating on the shares.
- The analyst viewed the guidance for Q4 as conservative and likely to be revised higher "as investors recognize the sustainability of strong at-home food consumption."
- MKM Partners analyst Bill Kirk raised the firm's price target on Kroger to $48 from $44 but kept a Neutral rating on the shares.
- The analyst cited the company's Q3 earnings beat on identical store sales growth of 3.1%, but this growth rate masked an area of concern around Kroger's gross margin.
- Telsey Advisory Group analyst Joseph Feldman maintained Kroger with a Market Perform and raised the price target from $45 to $47.
- Price Action: KR shares are trading higher by 4.16% at $45.24 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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