Telsey Advisory analyst Joseph Feldman downgraded Grocery Outlet (GO) to Market Perform from Outperform with a price target of $19, down from $27, citing the company’s “continued inconsistent performance over the past few years,” including today’s pre-announcement that 2024 adjusted EBITDA will fall short of prior guidance and news of a management change. Performance should be “much stronger for a growth company,” which reflects inconsistent operational execution, the analyst tel.s investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GO:
- Grocery Outlet downgraded to Neutral from Buy at BofA
- BofA downgrades Grocery Outlet on uncertainty from CEO change
- Grocery Outlet price target lowered to $26 from $28 at Wells Fargo
- Grocery Outlet Holding Announces Leadership Change and Growth Forecast
- Grocery Outlet sees Q3 revenue $1.1B, consensus $1.09B