- BMO Capital analyst Kelly Bania lowered the price target on Albertsons Companies Inc (NYSE:ACI) to $24 from $26 and maintained an Underperform rating on the shares.
- The analyst thinks there is a higher chance that consumer headwinds and signs of trade-down on value could hamper the company’s earnings.
- The analyst also warned about the impact of a possible wave of wage investments for unionized grocers on Albertsons’ earnings.
- Price Action: ACI shares are trading lower by 0.26% at $26.35 on the last check Friday.
New Data Shows Wage Growth Is Down: Will It Be Enough To Get The Federal Reserve To Change Course?
As the Federal Reserve continues to grapple with historically high inflation, new data shows that wage growth may finally be headed lower after accelerating for nearly two years.
