RBC Capital analyst Steven Shemesh lowered the firm’s price target on Albertsons (ACI) to $22 from $23 and keeps an Outperform rating on the shares. The firm is cutting its FY24 EPS view by 19c to $2.43 to reflect continued pharmacy momentum that is partially offset by core grocery softness and the lapping of significant inflation, the analyst tells investors in a research note. The firm also assigns a 65% probability that the Kroger (KR) deal breaks apart.
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