Jefferies Downgrades SAFEWAY (SWY) to Hold; 'Just for U' Looks Limited
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Price: $35.10 --0%
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 32
Rating Summary:
4 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 32
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Jefferies downgraded SAFEWAY (NYSE: SWY) from Buy to Hold with a price target of $17.00 (from $21.00).
Analyst, Scott A. Mushkin, said, "We are downgrading SWY as sales upside driven by just for U appears limited. In addition, industry fundamentals are weakening, in part due to higher gas prices and an acceleration of competitive openings, which may be compounded by a spike in food inflation. With the near-term catalysts seemingly gone, and no additional company-specific or macro drivers on the horizon, valuation remains a lone positive for the equity."
FY12 from $2.00 to $1.94 and FY13 from $2.32 to $2.15.
For an analyst ratings summary and ratings history on SAFEWAY click here. For more ratings news on SAFEWAY click here.
Shares of SAFEWAY closed at $15.97 yesterday.
Analyst, Scott A. Mushkin, said, "We are downgrading SWY as sales upside driven by just for U appears limited. In addition, industry fundamentals are weakening, in part due to higher gas prices and an acceleration of competitive openings, which may be compounded by a spike in food inflation. With the near-term catalysts seemingly gone, and no additional company-specific or macro drivers on the horizon, valuation remains a lone positive for the equity."
FY12 from $2.00 to $1.94 and FY13 from $2.32 to $2.15.
For an analyst ratings summary and ratings history on SAFEWAY click here. For more ratings news on SAFEWAY click here.
Shares of SAFEWAY closed at $15.97 yesterday.
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