The Kroger Co. (NYSE:KR) is one of the best stocks to buy now for good returns.
On June 22, Morgan Stanley reiterated an Equal Weight rating on the stock but cut the price target to $67 from $73 a share
The Kroger Co. (NYSE:KR) is currently trading at $58 a share. The investment bank terms the strategy of self-funding price investments to drive market share as prudent, given CEO Greg Foran’s track record of supporting execution. However, Morgan Stanley insists that a self-funding price investment strategy comes with its degree of difficulty.
Similarly, on June 22, UBS reiterated a Neutral rating on the stock and cut the price target to $63 from $70. According to UBS, the first-quarter results showed that Kroger Co. has the right plan to strengthen its competitive edge. For starters, the company is well-positioned to fund necessary investments from its savings.