JPMorgan lowered the firm’s price target on Albertsons (ACI) to $22 from $23 and keeps an Overweight rating on the shares. JPMorgan also removed Albertsons from its Analyst Focus List. The company reported a Q4 earnings beat but an identical sales miss, issued a lighter than expected identical sales outlook, and announced $774M opioid settlement, the analyst tells investors in a research note. The firm reduced estimates for Albertsons to reflect industry pressures to start the year and a higher expected tax rate.
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