UBS Maintains a 'Sell' on SAFEWAY (SWY) Heading Into Q2 Earnings

July 6, 2012 12:47 PM EDT
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Price: $35.10 --0%

Rating Summary:
    4 Buy, 17 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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UBS maintains a 'Sell' on SAFEWAY (NYSE: SWY) price target of $17.00.

Analyst, Jason DeRise, keeps his Sell rating ahead of SWY's Q2 earnings report, which is due out July, 19, 2012. The current Wall Street consensus estimate is EPS of $0.49 and revenues of $10.37B. In a previous note, DeRise said many of the large food retailers (including Kroger (NYSE: KR), Supervalu (NYSE: SVU), Wal-Mart (NYSE: WMT), etc) are fighting for market share and gross margins may suffer in order to keep customers coming in.

The 52-week trading range for Safeway is $15.93 - 24.28, and the stock is hovering at the low end, $17.61 today (down $0.13 or -0.73%).

UBS also has a 'Sell' rating on SVU, a 'Neutral' on KR, and 'Buys' on Whole Foods (NYSE: WFM), Harris Teeter (Nasdaq: HTSI) and The Fresh Market (NYSE: TFM)

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

Shares of SAFEWAY closed at $17.74 yesterday.

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