Kroger
stock is trading higher on Friday after a tough 2022, thanks to an analyst upgrade. However there’s another grocer that sailed through last year’s turmoil, and may do so again, despite the Street’s intense skepticism.
J.P. Morgan’s Ken Goldman boosted his rating on Kroger stock (ticker: KR) to Overweight from Neutral, adding $4 to his price target, to $54. He writes that there are three factors fueling his bullishness: His belief that fundamentals won’t weaken as much as many expect, that the valuation is at historically attractive levels, and that the
Albertsons
(ACI) deal could surprise investors and close.
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