Albertsons price target lowered to $21 from $23 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the firm’s price target on Albertsons (ACI) to $21 from $23 and keeps an Outperform rating on the shares. The firm is reducing its Q2 EBITDA view to $821M from $844M based on conversations, state-weighted scanner data analysis and peer read-throughs, adding that investors may continue to tread with caution given concerns over a need for ongoing price investment and low visibility into margin tailwinds ramping, the analyst tells investors in a research note.