Guggenheim analyst John Heinbockel raised the firm’s price target on Kroger (KR) to $63 from $61 and keeps a Buy rating on the shares. The firm cites modest macro exposure, both in terms of product assortment and demographics, “still-skeptical Street expectations,” and a “reasonable” multiple in support of its Buy rating, adding that it sees a likely in-line Q3 print and tightened full-year guidance upcoming on December 5.
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