Barclays Maintains an 'Equalweight' on SAFEWAY (SWY); Q2 Preview

Barclays maintains an 'Equalweight' on SAFEWAY (NYSE: SWY) price target of $22.00.

Analyst, Meredith Adler previews Q2, which will be reported on July 19, before the open. Adler is maintaining her EPS estimate of $0.50 (vs. consensus of $0.49). Q2 sales estimate is $10.3 billion.

Alder expects SWY to use its cash flow to pay down debt and buyback stock, however, a recent report from SUPERVALU (NYSE: SVU) stated competitive activity in the industry had intensified. Therefore, if a price war erupts, SWY will not be immune and if the No. 1 competitor, Kroger (NYSE: KR), gets involved, SWY may need to keep more cash on hand.

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 $15.91 yesterday.

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