Kroger price target lowered to $48 from $51 at UBS

UBS lowered the firm’s price target on Kroger to $48 from $51 and keeps a Neutral rating on the shares. Sentiment on Kroger remains mixed despite a “strong” performance in Q1 as its FY23 outlook remains uncertain, the analyst tells investors in a post-earnings note. The firm thinks the tone will likely remain mixed until the market gains more confidence in Kroger’s intermediate-term outlook and that this will likely leave the stock range-bound for “the foreseeable future.”