Wells Fargo analyst Edward Kelly maintained a Buy rating on Kroger Company (KR – Research Report) yesterday and set a price target of $73.00.
Edward Kelly has given his Buy rating due to a combination of factors that highlight Kroger Company’s promising position in a challenging consumer environment. The company has shown improving fundamental momentum, with its recent earnings per share surpassing market expectations. Despite a slightly lower EPS guidance than anticipated, there is potential for upside, supported by stable margins and a disciplined competitive landscape.
Furthermore, Kroger’s significant share repurchase program acts as a major catalyst, with the potential to repurchase over $10 billion worth of shares by the end of 2026. This strategy, along with the company’s resilience to macroeconomic issues and improving grocery fundamentals, positions Kroger well for future growth. Kelly believes these factors will enable Kroger to exceed consensus expectations and maintain a strong performance in the coming years.
According to TipRanks, Kelly is a 5-star analyst with an average return of 7.9% and a 63.76% success rate. Kelly covers the Consumer Defensive sector, focusing on stocks such as Kroger Company, Walmart, and Albertsons Companies.
In another report released on March 3, Telsey Advisory also maintained a Buy rating on the stock with a $73.00 price target.