JPMorgan analyst Ken Goldman upgraded Kroger (KR) to Overweight from Neutral with a $54 price target. The analyst believes the stock’s risk/reward "now skews favorably." While Kroger’s fundamentals will weaken "they won’t collapse," and the stock’s valuation is attractive, the analyst tells investors in a research note. The firm sees a "non-zero chance" that the Albertsons (ACI) deal happens, noting most investors it speaks with seem to ascribe a 0% probability.
Published first on TheFly
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