Kroger price target raised to $62 from $60 at Telsey Advisory

Telsey Advisory analyst Joseph Feldman raised the firm’s price target on Kroger to $62 from $60 and keeps an Outperform rating on the shares. The firm’s meetings with Kroger and investors have increased the firm’s visibility and confidence in Kroger’s sustainable long-term growth opportunity, the analyst tells investors. Further, Kroger is transitioning to a food-first model from traditional food retail. This transition should create new growth areas that are significantly more profitable than food retail and should boost the profit profile over time, the firm adds.