Kroger price target lowered to $47 from $50 at MKM Partners

MKM Partners analyst Bill Kirk lowered the firm’s price target on Kroger to $47 from $50 and keeps a Neutral rating on the shares. The company reported its best quarter since 2020, but 2023 will face several headwinds around margins and market share, the analyst tells investors in a research note. Kirk adds that less inflation will weigh on Kroger’s SG&A leverage that was seen in 2022.