Kroger price target raised to $76 from $71 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Kroger (KR) to $76 from $71 and keeps an Equal Weight rating on the shares. Top-line growth is accelerating due to market share gains and stronger pharmacy growth and both top- and bottom-line momentum should continue, though the macro environment and heightened industry competition remain risks, the analyst tells investors in a post-earnings note.