Roth MKM analyst Bill Kirk lowered the firm’s price target on Grocery Outlet to $26 from $31 and keeps a Neutral rating on the shares. The company’s Q4 results saw a beat on earnings and revenue, but its margins were worse than expected, the analyst tells investors in a research note. The firm added that while weakening consumer and too much food inflation improved demand for Grocery Outlet’s proposition, it is concerned that Grocery Outlet’s Food Retail sector over-earned in 2022 thanks to market share leaders focused on non-food categories.
Published first on TheFly
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- Grocery Outlet price target lowered to $35 from $39 at TD Cowen
- Grocery Outlet price target lowered to $34 from $38 at Deutsche Bank
- Craig-Hallum downgrades Grocery Outlet to Hold, cuts price target to $29
- Grocery Outlet downgraded to Hold from Buy at Craig-Hallum
- Grocery Outlet sees FY23 EPS 94c-99c, consensus $1.14
