Someone said there was an upgrade but SWY doesn't jump like this over an upgrade. I seen days where there is an upgrade and it didn't really move the stock at all. Up as high as $1.78 earlier and there is no news on Yahoo. Seems to me there must be something out there the rest of us aren't privy to, at least not yet. Any clues anyone? Just curious why the big move this AM in particular? JMO
From Seeking Alpha:
"Shares of Safeway (SWY) are up 3% pre-market after Credit Suisse upgrades the grocer 2 notches to Outperform and raises its PT to $34 from $26.
The rating change reflects low valuation and the belief that new CEO Robert Edwards is considering options to unlock shareholder value. These include divestment of weaker-performing assets like stores in Southern California, which could yield 20% upside."