Guggenheim has decided to maintain its Buy rating of Albertsons Companies (NYSE:ACI) and raise its price target from $34.00 to $37.00.
Shares of Albertsons Companies are trading up 4.41% over the last 24 hours, at $33.38 per share.
A move to $37.00 would account for a 10.84% increase from the current share price.
About Albertsons Companies
Albertsons is the second- largest traditional grocer in America, operating 2,277 stores under more than 20 banners in 34 states (as of the end of fiscal 2020). Around 75% of stores have pharmacies, while nearly 20% also sell fuel. Albertsons has a significant private-label operation, accounting for around 20% of sales (excluding fuel). While its own brand assortment is mainly manufactured by third parties, Albertsons operates 20 food production plants (as of the end of fiscal 2020). Albertsons is a top-two grocer in two thirds of its major markets (as of early 2021, according to company data), and virtually all of its sales come from the United States.
About Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
