Jefferies Raises Price Target and Estimates on Kroger (KR), Leads the Industry in Volume
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Price: $57.90 +2.81%
Rating Summary:
16 Buy, 19 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 19 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies is reiterating its Buy rating on shares of Kroger (NYSE: KR) while it raises its price target by $1 to $28 following better that expected Q1 results.
The company's solid ex-fuel ID sales continue to outpace the rest of the traditional supermarket industry, which is helping with market share gains. Kroger's fuel business has been experiencing strong gallon growth.
The firm reports that investors should anticipate gross margin investment as the company drives market share gains. Jefferies checks of the market indicate that KR is the volume leader in its segment.
Jefferies has raised its FY12 EPS estimate from $1.98 to $2.00 to reflect the Q1 beat and its FY13 from $2.17 to $2.30 due to a lower share count and the impact of a fifty-third week.
For more ratings news on Kroger click here and for the rating history of Kroger click here.
Shares of Kroger closed at $23.99 yesterday.
The company's solid ex-fuel ID sales continue to outpace the rest of the traditional supermarket industry, which is helping with market share gains. Kroger's fuel business has been experiencing strong gallon growth.
The firm reports that investors should anticipate gross margin investment as the company drives market share gains. Jefferies checks of the market indicate that KR is the volume leader in its segment.
Jefferies has raised its FY12 EPS estimate from $1.98 to $2.00 to reflect the Q1 beat and its FY13 from $2.17 to $2.30 due to a lower share count and the impact of a fifty-third week.
For more ratings news on Kroger click here and for the rating history of Kroger click here.
Shares of Kroger closed at $23.99 yesterday.
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