Albertsons price target raised to $26 from $21 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Albertsons (ACI) to $26 from $21 and keeps an Outperform rating on the shares. The firm’s discussions with the company increased its visibility and confidence in the potential for growth in both sales and profits, the analyst tells investors. The company never stopped working to improve its business while attempting to close its now terminated acquisition with Kroger (KR), retaining its top leadership team and adding some key staff, the firm adds. Additionally, Albertsons is working to improve profitable growth through accelerating omnichannel capabilities, expanding Albertsons Media Collective, focusing on value proposition, optimizing the store base, transforming core business areas, and enhancing productivity, the firm says.