TD Cowen analyst Oliver Chen has maintained their neutral stance on GO stock, giving a Hold rating on November 6.
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Oliver Chen has given his Hold rating due to a combination of factors, including a revised price target for Grocery Outlet Holding Corp. The price target has been adjusted downward from $16 to $13, reflecting a valuation based on approximately 15 times the forward earnings, which is in line with historical averages.
Additionally, the decision to maintain a Hold rating incorporates updated financial estimates that account for slight changes in selling, general and administrative expenses, depreciation and amortization, as well as the tax rate. These adjustments suggest a cautious outlook, balancing potential risks and rewards for investors.
In another report released on November 6, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $13.00 price target.