Kroger (KR) PT Lowered to $23 at Goldman Sachs, Sees Digital Losses + Lidl Expansion as Threat, Negatively Revises EPS Estimates

Goldman Sachs lowered its price target on Kroger (NYSE: KR) to $23.00 (from $26.00) while maintaining a Neutral rating.

Analyst Stephen Tanal has concerns over the company's loss-making in digital as well as pressure from Lidl expansion into key Kroger states like Ohio and Texas. The analyst expects digital losses and Lidl expansion pressures to cloud the earnings outlook for the company in the best case and drive earnings declines in the worst case.

FY 2018 EPS estimate falls from $2.02 to $2.00, FY 2019 EPS estimate falls from $2.05 to $1.95 and FY 2020 EPS estimate falls form $2.20 to $2.05.

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