Analysts Tick Up Kroger Price Target Post Q3 Results - Kroger (NYSE:KR)

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.

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