DA Davidson analyst Michael Baker lowered the firm’s price target on Grocery Outlet (GO) to $15 from $16 and keeps a Neutral rating on the shares after its Q3 results. The positives of the company’s improved systems and processes with better merchandising techniques were overshadowed in Q3 by a self-inflicted wound late in the quarter around a change in marketing, which led to a few weeks of weaker comps and caused a miss and guide down, the analyst tells investors in a research note.
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