JPMorgan Gives Some Credence to Recent Safeway (SWY) Chatter
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Price: $35.10 --0%
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Shares of Safeway (NYSE: SWY) are continuing higher Friday following a 2.4 percent rise on Thursday. Pushing shares higher this afternoon is an earlier note from JPMorgan analyst Ken Goldman.
The analyst suggested the stock's recent moves indicate some kind of possible corporate action, i.e. a leveraged buy out or a Reverse Morris Trust. Although the analyst later issued a clarifying note which said an LBO is unlikely, Safeway shares remain near session highs around $21.68. The stock is up 3.5 percent Friday.
JPMorgan maintains a Neutral rating and $23 price target on shares of Safeway.
The analyst suggested the stock's recent moves indicate some kind of possible corporate action, i.e. a leveraged buy out or a Reverse Morris Trust. Although the analyst later issued a clarifying note which said an LBO is unlikely, Safeway shares remain near session highs around $21.68. The stock is up 3.5 percent Friday.
JPMorgan maintains a Neutral rating and $23 price target on shares of Safeway.
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