BofA reinstated coverage of Albertsons (ACI) with a Neutral rating and $22 price target following the termination of the merger agreement in which Kroger (KR) would have acquired the company. The firm believes that Albertsons’ focus on building customer lifetime value through pharmacy, digital, and loyalty initiatives supports its long-term outlook, but near-term upside could be limited as pharmacy mix/margin pressures and investments in digital continue.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACI:
- Albertsons price target lowered to $21 from $27.25 at Telsey Advisory
- Kroger price target raised to $63 from $60 at BMO Capital
- Largest borrow rate increases among liquid names
- Kroger’s (KR) $7.5B Stock Buyback Plan Sparks Investor Optimism
- Albertsons terminates Kroger deal, Macy’s reports Q3 beat: Morning Buzz