SUPERVALU (SVU) Now an Operational Turnaround Story, Says Analyst

Cantor Fitzgerald today maintained a Buy rating on SUPERVALU (NYSE: SVU) with a price target of $6.00. This morning the company announced it completed the sale of its Albertsons related properties to Cerberus. The sale included Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies.

Commenting on developments analyst Ajay Jain said he views the transaction as the end of a long period of value destruction.

"While we expect that Cerberus will take a very real estate focused approach in relation to Albertson's, we believe the stub company is likely to be more of an operational turnaround (particularly in relation to Save-A-Lot)," say Jain.

For an analyst ratings summary and ratings history on SUPERVALU click here. For more ratings news on SUPERVALU click here.

Shares of SUPERVALU closed at $4.19 yesterday.

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