UBS analyst Mark Carden lowered the firm’s price target on Albertsons (ACI) to $24 from $27 and keeps a Neutral rating on the shares. The firm’s takeaway from an event hosted by Albertsons’ CEO, CFO, and IR team is that the company is confident in its competitive positioning following the termination of its proposed merger with Kroger (KR), and while Albertsons is disappointed that the merger did not go through, it’s been working behind the scenes for the past 18 months to ensure that it was prepared for this scenario, the analyst tells investors in a research note.
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