Albertsons price target lowered to $22 from $24 at Telsey Advisory

Telsey Advisory analyst Joseph Feldman lowered the firm’s price target on Albertsons (ACI) to $22 from $24 and keeps an Outperform rating on the shares. The company reported “better-than-expected” Q3 results, with performance reflecting strong growth of digital and pharmacy as well as sequential improvement in core grocery units, the analyst tells investors. The company continues to see success from key initiatives, including driving growth and engagement through digital connections, growing the media collective, enhancing customer value, modernizing capabilities, and driving transformational productivity, the firm adds.