Telsey Advisory raised the firm’s price target on Kroger (KR) to $65 from $62 and keeps an Outperform rating on the shares. The firm continues to expect the company to benefit from its Leading with Fresh and Accelerating with Digital strategy, the analyst tells investors. Kroger is evolving to a food-first model, leveraging its growing food business and loyalty data to increase its opportunities beyond food, the firm adds. These new growth areas are “significantly more profitable” than its core food retail and should boost the profit profile, Telsey says.
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Read More on KR:
- Kroger price target raised to $63 from $61 at Guggenheim
- Kroger names Mary Ellen Adcock chief merchandising and marketing officer
- Amazon (AMZN) Merges Grocery Fulfillment Networks in Efficiency Push
- Amazon.com testing new grocery formats, WSJ reports
- Kroger call volume above normal and directionally bullish
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
