Telsey Advisory analyst Joseph Feldman downgraded Grocery Outlet (GO) to Market Perform from Outperform with a price target of $19, down from $27, citing the company’s “continued inconsistent performance over the past few years,” including today’s pre-announcement that 2024 adjusted EBITDA will fall short of prior guidance and news of a management change. Performance should be “much stronger for a growth company,” which reflects inconsistent operational execution, the analyst tel.s investors.
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Read More on GO:
- Grocery Outlet downgraded to Neutral from Buy at BofA
- BofA downgrades Grocery Outlet on uncertainty from CEO change
- Grocery Outlet price target lowered to $26 from $28 at Wells Fargo
- Grocery Outlet Holding Announces Leadership Change and Growth Forecast
- Grocery Outlet sees Q3 revenue $1.1B, consensus $1.09B