Deutsche Bank Starts Kroger (KR) at Buy; Low-price Positioning, Complemented by its Strong Loyalty Program

Deutsche Bank initiates coverage on Kroger (NYSE: KR) with a Buy. PT $28.00.

Deutsche analyst says, "While KR bulls have been frustrated at times over the past 2+ years as management diligently focused on its Customer First strategy, we believe these efforts will continue to bear fruit via strong ID trends in the 4-6% range over the next 2+ years. In the process, we expect to see noticeable outperformance vs. its traditional grocer peers (most notably Safeway), which should foster a higher multiple on the stock."

For more ratings news on Kroger click here and for the rating history of Kroger click here.

Shares of Kroger closed at $22.10 yesterday.

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