Standpoint Research Downgrades SUPERVALU (SVU) to Hold

Standpoint Research downgraded SUPERVALU (NYSE: SVU) from Buy to Hold.

Analyst Ronnie Moas comments, "Since October 2008 I have put out more than 280 recommendations … and I rarely take stop losses / close positions out with a loss. I will make an exception here with SVU up 38% today and 80% since the July low. The stock is moving on takeover speculation, even though chances of a deal being closed is just 40%-60%... In my opinion, much of the buying today is speculation and short covering with more than 50,000,000 shares short as of last week."

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 $2.19 yesterday.

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