Kroger (KR) Beats Earnings and Sales Estimates, Citi Adjusts Target

The Kroger Co. (NYSE:KR) ranks among the best forever stocks to invest in. Following The Kroger Co. (NYSE:KR)’s impressive first-quarter results, Citi maintained its Neutral rating and increased its price target for the company from $65 to $74 on June 23.

Kroger (KR) Beats Earnings and Sales Estimates, Citi Adjusts Target

This was the fifth straight quarter that saw higher comparable sales, with the grocery chain reporting comparable sales growth of 3.2%, above the 2.4% consensus. Meanwhile, EPS came in at $1.49, exceeding the consensus expectation of $1.45.

While retaining its fiscal 2025 earnings per share target of $4.60-4.80, which Citi believes likely represents some cautiousness, The Kroger Co. (NYSE:KR) management raised its comparable sales guidance for the year from 2.0-3.0% to 2.25-3.25%.

With Citi closing its short-term upside view on the company and considering the risk/reward ratio as balanced at current levels, The Kroger Co. (NYSE:KR) anticipates that groceries will be a greater driver of second-half comparable growth than pharmacies.

The Kroger Co. (NYSE:KR) is an American retailer with over 2,700 supermarkets and multi-department stores in 35 states across the US.

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