Wells Fargo analyst Edward Kelly upgrades $Albertsons Companies (ACI.US)$ to a buy rating.
According to TipRanks data, the analyst has a success rate of 65.7% and a total average return of 8.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Albertsons Companies (ACI.US)$'s main analysts recently are as follows:
Albertsons presents a 'compelling opportunity in beaten down' market conditions, offering a 'compelling value opportunity' as developments with Kroger approach. The outcome is anticipated to provide either a significant acquisition or a 'solid plan B' set against straightforward comparisons and a substantial share repurchase initiative.
Albertsons' Q2 outcomes surpassed expectations yet showed a decline from the previous year. The prevailing trends suggest ongoing losses in grocery market share in the face of heightened competition. Additionally, there's increasing uncertainty surrounding potential deal outcomes. The forecast for Albertsons' earnings per share for FY25 has been adjusted, reflecting a modest reduction.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
