Wells Fargo analyst Edward Kelly raised the firm’s price target on Grocery Outlet (GO) to $9 from $7 and keeps an Equal Weight rating on the shares. The firm says Q1 was encouraging, with strategic adjustments beginning to yield results. Progress, easy compares, and insider buying has Wells intrigued. But there is much work to do against second half of the year weighted guide and macro headwinds are growing, the firm argues.
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