Grocery Outlet price target lowered to $13 from $16 at Loop Capital

Loop Capital lowered the firm’s price target on Grocery Outlet (GO) to $13 from $16 and keeps a Hold rating on the shares. The company’s Q4 results and guidance were worse than expected, largely driven by continued issues with the new independent operator inventory ordering system, the analyst tells investors in a research note. Loop adds it is surprised these problems have continued to linger well over a year after the initial integration, and the firm is concerned that the management’s expectations of things being “back to normal” by Q2 may ultimately “prove aggressive”.