Hilliard Lyons downgraded Kroger (NYSE: KR) from Buy to Long-Term Buy and raised the price target from $30.00 to $37.00.
Hilliard Lyons noted, “KR shares are up 33% over the past six months compared to a 7% gain for the S&P 500. We expect 2013 earnings to rise, but will face a difficult comparison to 2012. Our two-year price target is $37 per share. This assumes a future valuation slightly above the current level and represents potential annual total return, including dividends, of 12-13%.”
Kroger closed at $30.25 on Friday.
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Tags: Hilliard Lyons
Posted in: Analyst Color, Downgrades, Analyst Ratings