Jefferies upgraded Grocery Outlet (GO) to Buy from Hold with a price target of $18, up from $13. The company’s defensive positioning as a low-price grocer could drive outperformance during periods of economic uncertainty, the analyst tells investors in a research note. The firm says Grocery Outlet has been plagued by enterprise-wide technology issues that limited visibility and hindered numbers, but with new management, improving operations, and “encouraging” recent data, it sees upside potential.
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