Roth Capital analyst Bill Kirk upgraded Kroger (KR) to Buy from Neutral with a price target of $75, up from $66. The company is posting strong alternative profit streams but the stock’s valuation continues to lag peers, the analyst tells investors in a research note. The firm sees channel tailwinds for Kroger and a return to unit volume growth as the consumer faces pressure. On higher better volumes, more inflation, and cost savings, Kroger’s results “should continue to surprise to the upside,” contends Roth.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KR:
- Morning News Wrap-Up: Friday’s Biggest Stock Market Stories!
- Kroger Stock (KR) Drops as it ‘Takes a Long Hard Look’ at the Cost of E-Commerce
- Kroger Company: Balancing Pharmacy Gains and Grocery Challenges Amid Strategic Shifts
- Kroger’s Earnings Call Highlights Strong Growth Amid Challenges
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories!