Grocery Outlet price target lowered to $16 from $19 at BofA

BofA analyst Robert Ohmes lowered the firm’s price target on Grocery Outlet (GO) to $16 from $19 and keeps a Neutral rating on the shares. While the firm sees potential for a comp and margin recovery following systems conversion disruptions, it thinks uncertain timing could pressure the stock, the analyst tells investors in a post-earnings note. The firm lowers the multiple applied to its unchanged FY26 adjusted EPS estimate given recent softening comp momentum as well as a store refresh program still being relatively unproven outside of a small group of pilot stores, the analyst noted.