Jefferies Downgrades Kroger (KR) to Hold

Jefferies downgraded Kroger (NYSE: KR) to Hold with a price target of $24.00.

The firm comments, "While KR clearly remains one of the best operators in the food vertical, the continued difficult macro climate, which is impacting volumes, now looks to be compounded by increased competitive pressures as Wal-Mart steps up square footage growth and price investments in the U.S. This is all likely to place incremental pressure on KR’s margin and earnings over the next 12-18 months, in our opinion."

For more ratings news on Kroger click here and for the rating history of Kroger click here.

Shares of Kroger closed at $22.70 yesterday.

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