Roth MKM analyst Bill Kirk upgraded Albertsons to Buy from Neutral with a $24 price target. With a new divestiture package, C&S viability as a competitor is improved, says the firm, which is raising its deal probability estimate to 50% from 20%. On those improved odds and fundamental headwinds dissipating through FY24, shares should narrow toward the deal price of $27.25, says the firm, which sees upside to $24 using a standalone value estimate of about $19 and 50% odds of approval of the deal with Kroger (KR).
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