Kroger upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley analyst Simeon Gutman upgraded Kroger to Equal Weight from Underweight with a price target of $46, up from $44. A "stable" backdrop for food at home in 2023, with moderating inflation and steady underlying demand, should be positive for Kroger, Gutman tells investors in a research note. The analyst says some of his prior Kroger specific concerns are either improving, are less of a risk, or are understood by the market. As such, he believes the stock is fairly valued at current levels.