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Albertsons price target lowered to $23 from $24 at Roth Capital

Roth Capital analyst Bill Kirk lowered the firm’s price target on Albertsons (ACI) to $23 from $24 and keeps a Buy rating on the shares. The company delivered Q4 earnings driven by cost savings, productivity, and a shift toward generics in Pharmacy, the analyst tells investors in a research note. Roth adds it is seeing early signs of upside potential as EBITDA turned to y/y growth after 12 consecutive quarters of y/y decline, and the firm has confidence that efficiency programs will offset labor inflation and support reinvestment.

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