Albertsons price target raised to $22 from $21 at RBC Capital

RBC Capital raised the firm’s price target on Albertsons (ACI) to $22 from $21 and keeps an Outperform rating on the shares after the company’s investor event. The key takeaway is that the management believes the business is on solid footing, and that continued reinvestment along with productivity gains will help close the valuation gap vs. peers, the analyst tells investors in a research note. RBC adds however that it continues to see modest downside risk to 2025 consensus adjusted EBITDA given pharmacy mix shift and reinvestment.