RBC Capital Cuts Price Target on Kroger (KR) to $37; Reiterates Sector Perform

September 7, 2016 7:19 AM EDT
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Price: $30.90 -0.06%

Rating Summary:
    14 Buy, 11 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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RBC Capital maintained a Sector Perform rating on Kroger (NYSE: KR), and cut the price target to $37.00 (from $39.00), ahead of the company's 2Q earnings report.

Analyst William Kirk commented, "We believe 2Q ID Sales and full-year EPS guidance are at risk. Deflationary pressures increased throughout the quarter, while the spread between PPI and CPI narrowed, creating a topline and margin headwind. Additionally, as outsized profits from fuel margin roll off in 3Q and ID Sales remain at levels that generate little leverage, we believe Kroger will revise guidance down again. Reiterate Sector Perform."

For an analyst ratings summary and ratings history on Kroger click here. For more ratings news on Kroger click here.

Shares of Kroger closed at $32.67 yesterday.

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