Jefferies Maintains a 'Hold' on SAFEWAY (SWY); Arbitrage Play...Maybe
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Price: $35.10 --0%
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
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Jefferies maintains a 'Hold' on SAFEWAY (NYSE: SWY) price target of $17.00.
Analyst, Scott A. Mushkin, said, "We view SWY’s announcement to IPO a minority interest in Blackhawk in 1H13 as positive, however, our research suggests that the arbitrage opportunity is likely somewhat limited. Blackhawk, in fact, has been an important part of the SWY equity story for years and thus we suspect some of its value is already reflected. And while we are supportive of this action, it does not negate the challenges faced by the core supermarket business."
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 $16.50 yesterday.
Analyst, Scott A. Mushkin, said, "We view SWY’s announcement to IPO a minority interest in Blackhawk in 1H13 as positive, however, our research suggests that the arbitrage opportunity is likely somewhat limited. Blackhawk, in fact, has been an important part of the SWY equity story for years and thus we suspect some of its value is already reflected. And while we are supportive of this action, it does not negate the challenges faced by the core supermarket business."
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 $16.50 yesterday.
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