Jefferies Downgrades Kroger (KR) to Hold
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Price: $35.42 +1.00%
Rating Summary:
7 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade KR Now!
Jefferies downgraded Kroger (NYSE: KR) to Hold with a price target of $24.00.
The firm comments, "While KR clearly remains one of the best operators in the food vertical, the continued difficult macro climate, which is impacting volumes, now looks to be compounded by increased competitive pressures as Wal-Mart steps up square footage growth and price investments in the U.S. This is all likely to place incremental pressure on KR’s margin and earnings over the next 12-18 months, in our opinion."
For more ratings news on Kroger click here and for the rating history of Kroger click here.
Shares of Kroger closed at $22.70 yesterday, with a 52 week range of $20.53-$25.85.
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The firm comments, "While KR clearly remains one of the best operators in the food vertical, the continued difficult macro climate, which is impacting volumes, now looks to be compounded by increased competitive pressures as Wal-Mart steps up square footage growth and price investments in the U.S. This is all likely to place incremental pressure on KR’s margin and earnings over the next 12-18 months, in our opinion."
For more ratings news on Kroger click here and for the rating history of Kroger click here.
Shares of Kroger closed at $22.70 yesterday, with a 52 week range of $20.53-$25.85.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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