Dahlman Rose Starts SAFEWAY (SWY) at Hold, Current Trends Look Favorable
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Price: $35.10 --0%
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Dahlman Rose initiates coverage on shares of SAFEWAY (NYSE: SWY) with a Hold rating commenting that near term industry trends remain favorable as the company will be able to pass on food inflation prices on to the consumers.
The firm believes that SWY has to continue to refine its price offering in order to maintain and gain market share, especially in its strongest market Northern California.
An analyst at Dahlman Rose reports, "A feature of recent quarters has been the boost Safeway has received from lower noncash items, such as lower property impairments, higher property profits, and lower pension contributions. We feel this has masked a weaker underlying performance and is unsustainable."
The firms current Q2, 2011, and 2012 EPS estimates are $0.39, $1.66, and $1.78.
For more ratings news on SAFEWAY click here and for the rating history of SAFEWAY click here.
Shares of SAFEWAY closed at $23.23 yesterday.
The firm believes that SWY has to continue to refine its price offering in order to maintain and gain market share, especially in its strongest market Northern California.
An analyst at Dahlman Rose reports, "A feature of recent quarters has been the boost Safeway has received from lower noncash items, such as lower property impairments, higher property profits, and lower pension contributions. We feel this has masked a weaker underlying performance and is unsustainable."
The firms current Q2, 2011, and 2012 EPS estimates are $0.39, $1.66, and $1.78.
For more ratings news on SAFEWAY click here and for the rating history of SAFEWAY click here.
Shares of SAFEWAY closed at $23.23 yesterday.
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