TD Cowen analyst Oliver Chen downgraded Grocery Outlet (GO) to Hold from Buy with a price target of $16, down from $25. The firm expects Grocery Outlet’s Interim CEO to be an “encouraging and steadying hand” as solving prolonged tech systems issues, mending relationships with independent operators, and restoring value pricing for consumers are key priorities. However, the analyst moves to the sidelines pending more confidence that Grocery Outlet “can execute its roadmap for future success.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GO:
- Grocery Outlet Reports Increased Sales Amid Profit Challenges
- Closing Bell Movers: Exact Sciences falls 30% after results, guidance cut
- Grocery Outlet reports Q3 EPS 28c, consensus 27c
- Grocery Outlet sees FY24 EPS 77c-80c, consensus 88c
- Grocery Outlet options imply 8.2% move in share price post-earnings