Barclays maintains an 'Equalweight' onSAFEWAY (SWY); Still Running Uphill
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Price: $35.10 --0%
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' onSAFEWAY (NYSE: SWY) price target of $21.00.
Barclays analyst says, "The impact of high gasoline and food prices and still-elevated unemployment continued to pressure consumer spending and contributed to weak volume for 3Q11. Volume declined sequentially and at an accelerating pace which may have been a surprise to investors. Despite that, SWY believes its market share remained steady, and management remains focused on maintaining market share rather than volume growth. The company views this as the appropriate strategy for the current environment in which overall industry volume is negative."
"We are maintaining our 4Q11 EPS of $0.69 and our FY11 EPS increases to $1.76 from $1.70, and FY12 EPS to $1.85 from $1.80."
For more ratings news on SAFEWAY click here and for the rating history of SAFEWAY click here.
Shares of SAFEWAY closed at $17.93 yesterday.
Barclays analyst says, "The impact of high gasoline and food prices and still-elevated unemployment continued to pressure consumer spending and contributed to weak volume for 3Q11. Volume declined sequentially and at an accelerating pace which may have been a surprise to investors. Despite that, SWY believes its market share remained steady, and management remains focused on maintaining market share rather than volume growth. The company views this as the appropriate strategy for the current environment in which overall industry volume is negative."
"We are maintaining our 4Q11 EPS of $0.69 and our FY11 EPS increases to $1.76 from $1.70, and FY12 EPS to $1.85 from $1.80."
For more ratings news on SAFEWAY click here and for the rating history of SAFEWAY click here.
Shares of SAFEWAY closed at $17.93 yesterday.
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