UPDATE: BMO Capital Downgrades Albertsons Companies Inc. (ACI) to Underperform

October 5, 2021 4:10 AM EDT
Get Alerts ACI Hot Sheet
Price: $29.36 +0.79%

Rating Summary:
    16 Buy, 16 Hold, 7 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 20
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(Updated - October 5, 2021 4:57 AM EDT)

BMO Capital analyst Kelly Bania downgraded Albertsons Companies Inc. (NYSE: ACI) from Market Perform to Underperform with a price target of $26.00 (from $22.00).

The analyst comments "We see risk to ACI's margin outlook given significantly greater margin expansion relative to key grocery peers. We see risk to GM% in a more price-sensitive consumer environment and risk on the wage front as unionized grocers have been shielded from broader industry wage rate increases given contract negotiation cycles. This could suggest a wave of wage investments in 2022/2023. We raise our target price to $26 (up from $22 prior) given ongoing Covid-related tailwinds for traditional supermarkets, but we see downside in the stock from current levels."

For an analyst ratings summary and ratings history on Albertsons Companies Inc. click here. For more ratings news on Albertsons Companies Inc. click here.

Shares of Albertsons Companies Inc. closed at $30.10 yesterday.


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