Grocery Outlet price target lowered to $25 from $30 at Jefferies

Jefferies lowered the firm’s price target on Grocery Outlet to $25 from $30 and keeps a Hold rating on the shares ahead of the Q4 reports from the discount retailer group. The firm doesn’t expect many companies to report major earnings surprises based on its analysis of alternative data sets, the analyst tells investors in a preview note. The firm is lowering its Grocery Outlet sales estimates and reducing its EPS forecast to be at the low end of guidance as the firm’s indicator points to a deceleration in sales growth, which is partially attributable to disruption from implementing a new inventory system.