Kroger price target raised to $65 from $62 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Kroger (KR) to $65 from $62 and keeps an Outperform rating on the shares. The firm continues to expect the company to benefit from its Leading with Fresh and Accelerating with Digital strategy, the analyst tells investors. Kroger is evolving to a food-first model, leveraging its growing food business and loyalty data to increase its opportunities beyond food, the firm adds. These new growth areas are “significantly more profitable” than its core food retail and should boost the profit profile, Telsey says.