Evercore ISI initiates positive Tactical Trade on Kroger

Evercore ISI initiated a positive Tactical Trade on Kroger ahead of its Q1 earnings on June 20 and made no change to its Outperform rating or $60 price target. The firm says absolute upside is likely to approach high single digits/mid $50s. Kroger is not getting credit for its ability to execute in a promotional backdrop and a likely improving identical sales and margin trajectory exiting Q1, the analyst tells investors in a research note.