Kroger (KR) Higher as Goldman Sachs Removes 'Sell' Rating

Shares of Kroger (NYSE: KR) are mildly higher early Monday after Goldman Sachs boosted its rating from Sell to Neutral and raised its price target from $24 to $27.

The firm cited: (1) upward estimate revisions on improving second derivative industry growth that leave us more in line with consensus; (2) M&A is moving to the forefront, with KR positioned as a consolidator; and (3) a 10% total distribution yield makes KR the best social contract in our coverage.

For an analyst ratings summary and ratings history on Kroger click here. For more ratings news on Kroger click here.

Shares of Kroger closed at $28.20 yesterday.

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