Albertsons price target lowered to $20 from $21 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the firm’s price target on Albertsons (ACI) to $20 from $21 and keeps an Outperform rating on the shares after its Q4 results. The company is making tangible progress on margins but its top line outlook remains muted, the analyst tells investors in a research note. RBC adds, however, that grocery trends have largely remained stable and the guide-down is primarily related to Albertsons’ pharmacy business.