Kroger price target raised to $56 from $52 at Roth MKM

Roth MKM raised the firm’s price target on Kroger (KR) to $56 from $52 and keeps a Neutral rating on the shares after its Q3 results. With a comp store sales beat, Kroger returned to profitability growth, and while Q4 is likely to decelerate slightly, Kroger is guiding to FY25 operating income growth, the analyst tells investors in a research note. Between a soft consumer and increased competition however, the firm is concerned with the sector’s ability to passthrough input cost inflation, Roth MKM added.