Kroger price target raised to $70 from $65 at Wells Fargo

Wells Fargo analyst Edward Kelly raised the firm’s price target on Kroger (KR) to $70 from $65 and keeps an Overweight rating on the shares. Kroger’s Q3 update was slightly shy of optimistic expectations, but provided enough fundamental improvement to keep the firm bullish, the analyst tells investors in a research note. Kroger’s improving momentum should help drive EPS and the stock higher, Wells adds.