Albertsons upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo upgraded Albertsons (ACI) to Overweight from Equal Weight with a price target of $23, up from $22. The firm sees a “compelling opportunity in beaten down” Albertsons. The shares offer a “compelling value opportunity” as the Kroger (KR) resolution nears, the analyst tells investors in a research note. Wells the resolution either brings a takeout or “solid plan B” against easy compares and sizeable share buyback.