Kroger price target raised to $58 from $46 at BMO Capital

BMO Capital analyst Kelly Bania raised the firm’s price target on Kroger to $58 from $46 and keeps a Market Perform rating on the shares. The company’s Q4 performance was solid, while its guidance suggests a “stable” environment, which -combined with positive disclosures on traffic, digital, retail media, and store growth – is supporting improved investor sentiment around shares, the analyst tells investors in a research note. Kroger’s 2024 outlook calls for EPS decline on modest comp growt was also largely in line with expectations, the firm added.