As previously reported, Craig-Hallum analyst Jeremy Hamblin upgraded Grocery Outlet to Buy from Hold with a price target of $36, up from $30. The firm notes Grocery Outlet delivered another strong report in Q4 with upside on sales and EBITDA despite drag from systems enhancements. Full year 2024 guidance also topped expectations with adjusted EBITDA guide notably above and gross margin set to sustain at a higher base level. Craig-Hallum expects investors to revisit the Grocery Outlet story and will find a highly attractive and predictable growth model with potential for 5-times to 10-times long-term expansion.
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