UBS analyst Mark Carden upgraded Albertsons (ACI) to Buy from Neutral with a price target of $27, up from $22. The recent share pullback does not reflect the company’s sales opportunity from pharmacy cross-shopping and digital, the analyst tells investors in a research note. The firm expects Albertsons to repurchase shares and consistently report quarterly beats with guidance raises. This should help the stock re-rate and close the valuation gap with Kroger (KR), contends UBS.
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