WMT - Albertsons' Valuation Depends On Its Potential Merger With Kroger Says Analyst | Benzinga
Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on the shares of Albertsons Companies, Inc. (NYSE: ACI) with an unchanged price target of $27.25.
Albertsons will report second-quarter FY23 earnings on Tuesday, October 17.
The analyst maintained inline 2Q23 sales and profit projections, given healthy at-home consumption, moderating inflation, and gains from company-specific initiatives, including private brands and digital.
The analyst lowered 2H23 estimates, given slower consumer spending trends, faster-than-anticipated disinflation, and recent comments from competitors, such as Kroger Company (NYSE: KR), Costco Wholesale Corporation (NASDAQ: COST), and Walmart Inc (NYSE: WMT).
U.S. Retail Sales of Food & Beverages (not adjusted) were +2.8% in ...