Kroger price target lowered to $65 from $75 at BofA

BofA analyst Robert Ohmes lowered the firm’s price target on Kroger to $65 from $75 and keeps a Buy rating on the shares. Despite the company’s “strong” fiscal Q1 results, the firm lowered its FY24 adjusted EPS view by 5c to $4.55, in line with unchanged guidance for $4.45-$4.60, based on an outlook for slowing ID sales trends through FY24 as food inflation continues easing.