Goldman Sachs reinstated coverage of Kroger (KR) with a Buy rating and $70 price target Across food retail, companies that have been consistently investing in stores, prices, labor, and digital capabilities have generated better share performance, the analyst tells investors in a research note. The firm puts Kroger in this group citing its high level of investments for several years, and views the company as well positioned to continue to improve its share performance versus peers. Furthermore, Kroger is now at an inflection point to drive margin improvement as it leverages prior ecommerce investments and retail media ramps, contends Goldman.
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