These Analysts Raise Their Forecasts On Kroger After Stronger-Than-Expected Q1 Earnings

Group 1 - The company reported first-quarter adjusted earnings per share of $1.49, exceeding the analyst consensus estimate of $1.46 [1] - Quarterly sales were $45.12 billion, slightly missing the expected $45.19 billion, with identical sales excluding fuel increasing by 3.2% [1] - Gross margin improved to 23% from 22% year-over-year, driven by the sale of Kroger Specialty Pharmacy, lower shrink, and reduced supply chain costs [2] Group 2 - The CFO expressed confidence in raising the guidance for identical sales excluding fuel to a range of 2.25% to 3.25%, despite the uncertain macroeconomic environment [3] - Following the earnings announcement, Kroger shares increased by 2.4% to $73.72 [3] - Analysts adjusted their price targets for Kroger, with Deutsche Bank raising it from $57 to $67, Telsey Advisory Group from $73 to $82, UBS from $66 to $74, Guggenheim from $73 to $78, and Morgan Stanley from $71 to $76 [5]