Barclays Maintains an 'Equalweight' on SUPERVALU (SVU); Cutting Price Target on Continued Risk and Concerns
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Price: $32.49 --0%
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
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Barclays maintains an 'Equalweight' on SUPERVALU (NYSE: SVU) price target of $6.50 (from $8.00).
Analyst, Meredith Adler, said, "We believe the company is taking the necessary steps to improve its operations and it will also continue to pay down debt. Steps include lowering its prices but funding these investments through more efficient promotions, better vendor negotiations, reduced shrink, and a more streamlined corporate organization...Meanwhile, we believe the overhang of fiscal 2015-2017 debt maturities will weigh on the stock. Given these concerns and risks we are lowering our price target to $6.50."
For an analyst ratings summary and ratings history on SUPERVALU click here. For more ratings news on SUPERVALU click here.
Shares of SUPERVALU closed at $4.30 yesterday.
Analyst, Meredith Adler, said, "We believe the company is taking the necessary steps to improve its operations and it will also continue to pay down debt. Steps include lowering its prices but funding these investments through more efficient promotions, better vendor negotiations, reduced shrink, and a more streamlined corporate organization...Meanwhile, we believe the overhang of fiscal 2015-2017 debt maturities will weigh on the stock. Given these concerns and risks we are lowering our price target to $6.50."
For an analyst ratings summary and ratings history on SUPERVALU click here. For more ratings news on SUPERVALU click here.
Shares of SUPERVALU closed at $4.30 yesterday.
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