Roth MKM raised the firm’s price target on Kroger (KR) to $56 from $52 and keeps a Neutral rating on the shares after its Q3 results. With a comp store sales beat, Kroger returned to profitability growth, and while Q4 is likely to decelerate slightly, Kroger is guiding to FY25 operating income growth, the analyst tells investors in a research note. Between a soft consumer and increased competition however, the firm is concerned with the sector’s ability to passthrough input cost inflation, Roth MKM added.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
