Morgan Stanley analyst Simeon Gutman maintains $Grocery Outlet (GO.US)$ with a sell rating, and maintains the target price at $13.
According to TipRanks data, the analyst has a success rate of 60.5% and a total average return of 2.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Grocery Outlet (GO.US)$'s main analysts recently are as follows:
The company is concentrating on core business fundamentals, according to the analyst.
Grocery Outlet's performance has been notably fluctuating, yet there's optimism that the challenging phase could be subsiding with the return of the previous CEO Eric Lindberg to leadership. The third quarter outcomes were more favorable than anticipated, and although the guidance for the fourth quarter seems conservative, there are expectations for a gradual adherence to the company's algorithm by 2025, with the stock's valuation currently at historic lows.
The expectation is that Grocery Outlet's Interim CEO will serve as a positive and stabilizing influence while addressing ongoing technological system challenges, improving partnerships with independent operators, and reinstating value pricing for customers. Despite these priorities, a cautious stance is adopted until there is greater assurance of the company's ability to carry out its strategic plan for future success.
Note:
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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.
