Kroger Co. stock price target was increased to $47 from $42 at Oppenheimer, which reiterated its "outperform" rating on the grocery store chain. Kroger is considered the top pick in the grocery industry this year because of its fuel margins, lack of exposure to international markets and benefits from strong U.S. employment data.
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Wells Fargo starts "outperform" rating and a price target range of $48 to $49 on Kroger. "In an industry facing heightened competition, rapid consolidation, and the looming threat of non-traditional competition, Kroger has managed to build a better mouse trap," Wells Fargo said.
The company, which manufactures and processes food for sale in its supermarkets, was praised by the firm for heavily investing in its stores, product selection, pricing and the customer experience.