Barclays Maintains an 'Equalweight' on SAFEWAY (SWY); Real Market Share Not Flat, It's Down
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Price: $35.10 --0%
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on SAFEWAY (NYSE: SWY) price target lowered $2 to $23.
Analyst, Meredith Adler, said, "There was little that was positive in SWY's 4Q11 results or its outlook for 1Q12, in our view. Very high food and fuel inflation are putting pressure on volumes for the entire industry, and SWY is no exception. It seems to be holding its own against conventional competitors, but we think it is losing share within the entire grocery retailing world when discount and other non-traditional formats are included...The stock probably has a bit of upside from its current level, but there is nothing in the fundamental story that suggests to us Safeway is an attractive long-term investment."
Barclays lowers FY12 EPS estimate from $2.05 to $1.97.
For an analyst ratings summary and ratings history on SAFEWAY click here. For more ratings news on SAFEWAY click here.
Shares of SAFEWAY closed at $20.95 yesterday.
Analyst, Meredith Adler, said, "There was little that was positive in SWY's 4Q11 results or its outlook for 1Q12, in our view. Very high food and fuel inflation are putting pressure on volumes for the entire industry, and SWY is no exception. It seems to be holding its own against conventional competitors, but we think it is losing share within the entire grocery retailing world when discount and other non-traditional formats are included...The stock probably has a bit of upside from its current level, but there is nothing in the fundamental story that suggests to us Safeway is an attractive long-term investment."
Barclays lowers FY12 EPS estimate from $2.05 to $1.97.
For an analyst ratings summary and ratings history on SAFEWAY click here. For more ratings news on SAFEWAY click here.
Shares of SAFEWAY closed at $20.95 yesterday.
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