RBC Capital Cuts Price Target on Kroger (KR) to $37; Reiterates Sector Perform
- Health, energy stocks hit Wall St, Microsoft lifts Nasdaq
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
- General Electric (GE) Tops Q3 EPS by 2c; Updates FY16 EPS Outlook
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
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."
Shares of Kroger closed at $32.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- KLA-Tencor (KLAC) PT Raised to $85 at Cowen
- PayPal (PYPL) PT Lifted to $48 at Mizuho Following Solid Q3
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!