Goldman Sachs Comments On Safeway (SWY)

Goldman Sachs reviewed its Safeway SWY Analyst day in a research report. Goldman Sachs has previously given Safeway a $25 price target.

In the report, Goldman Sachs states, "SWY's 2011 annual investor meeting confirmed our view that cyclical
tailwinds are gaining momentum to power accelerating EPS growth. As we previewed, the analyst day provided evidence of: (1) sequential improvements across price/item, transaction growth, and leverage; and (2) an improving 2011 outlook with EPS guidance of $1.60-$1.80 excluding the impact of taxes, share buybacks and lower interest expense associated with a $1.1 billion dividend from its operations in Canada."

Shares of Safeway were trading at $22.47 at the time of posting, up 0.27% from Thursday's market close.