- Stephens analyst Ben Bienvenu reiterated an Equal Weight rating on the shares of Kroger Co (NYSE:KR) with a price target of $57.00.
- The analyst said Kroger reported Q2 FY22 adjusted EPS of $0.90 versus his estimate of $0.97 and ID sales growth without the fuel of $5.8% versus his estimate of 4.5%.
- Bienvenu said the company’s business continues to benefit from a favorable operating environment with persistent food inflation driving top-line growth and pushing consumers to look for value.
- Kroger has an expansive private label portfolio with attractive offerings for shoppers at any price point, added the analyst.
- The company is also working to improve its product mix, evidenced by its expansion across its Private Label portfolio with 170 new, seasonal items and launching the new Smart Way product line.
- It has also seen a material step up in fuel profitability, which Bienvenu believes could represent a positive structural shift for the company.
- The analyst noted that shares had pulled back recently, which could create a pathway to a modest upside in the near term.
- Price Action: KR shares are trading lower by 2.73% at $50.52 on the last check Monday.
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LPL Financial Holdings Q2 EPS $2.24 Beats $1.97 Estimate, Sales $2.04B Miss $2.12B Estimate
LPL Financial Holdings (NASDAQ:LPLA) reported quarterly earnings of $2.24 per share which beat the analyst consensus estimate of $1.97 by 13.71 percent. This is a 21.08 percent increase over earnings of $1.85 per share
