2024-03-15 10:48:39 ET
Summary
- Sell rating for Grocery Outlet Holding due to operational challenges and plans to open 15-20 new stores in existing markets.
- Negative view on the UGO acquisition, citing overpayment and doubts about synergies and operational capabilities.
- High chance of missing FY24 guidance due to operational uncertainties and integration of UGO, as well as other ongoing challenges.
Investment overview
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Grocery Outlet Holding: Very Negative On This UGO Acquisition In The Near Term