Telsey Upgrades Albertsons Companies Inc. (ACI) to Outperform

Telsey analyst Joseph Feldman upgraded Albertsons Companies Inc. (NYSE: ACI) from Market Perform to Outperform with a price target of $26.00 (from $21.00).

The analyst comments "Upgrading ACI to Outperform from Market Perform: Our discussion with Albertsons increased our visibility and confidence in the potential for growth in sales and profits—following the termination of the Kroger-Albertsons merger after two years of effort. Albertsons never stopped working to improve its business over the past two years while attempting to close the merger and plan for the integration. The company aims to accelerate the implementation of key strategic initiatives and enhance execution to generate solid returns. Importantly, Albertsons retained its top leadership team and the next level of leaders, and even added some key staff over the past two years, which should help the company achieve its targets."

For an analyst ratings summary and ratings history on Albertsons Companies Inc. click here. For more ratings news on Albertsons Companies Inc. click here.

Shares of Albertsons Companies Inc. closed at $19.85 yesterday.

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