Jefferies Maintains a 'Hold' on SUPERVALU (SVU); Adjusting Estimates & PT as Falling Volumes Remain a Concern
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Price: $32.49 --0%
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Hold' on SUPERVALU (NYSE: SVU) price target lowered from $9.50 to $9.00.
Jefferies analyst says, "Post SVU’s 2Q report, we conducted additional channel checks that showed that volumes remain under significant pressure. While some of this is likely due to cycling promotions from last year, the two-year volume decline appears near 15%, a staggering number, in our opinion. While we continue to like the hyperlocal initiative, it has yet to stabilize market share suggesting that price gaps may remain a problem."
"We are increasing our FY12 by $0.02 to $1.27, while lowering 3Q12 and FY13 estimates to $0.28 and $1.15, from $0.29 and $1.24, respectively. Our revised
estimates largely reflect a decrease in comp store sales resulting in further deleveraging of the business."
For more ratings news on SUPERVALU click here and for the rating history of SUPERVALU click here.
Shares of SUPERVALU closed at $8.14 yesterday.
Jefferies analyst says, "Post SVU’s 2Q report, we conducted additional channel checks that showed that volumes remain under significant pressure. While some of this is likely due to cycling promotions from last year, the two-year volume decline appears near 15%, a staggering number, in our opinion. While we continue to like the hyperlocal initiative, it has yet to stabilize market share suggesting that price gaps may remain a problem."
"We are increasing our FY12 by $0.02 to $1.27, while lowering 3Q12 and FY13 estimates to $0.28 and $1.15, from $0.29 and $1.24, respectively. Our revised
estimates largely reflect a decrease in comp store sales resulting in further deleveraging of the business."
For more ratings news on SUPERVALU click here and for the rating history of SUPERVALU click here.
Shares of SUPERVALU closed at $8.14 yesterday.
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