Analyst Kate McShane from Goldman Sachs research considers the stock attractive and recommends it with a Buy rating. The target price is set at 180 versus 182 USD.
Albertsons Companies Inc. (NYSE: ACI), received downgraded ratings from Goldman Sachs.
A Shifting Landscape: Analyst Kate McShane noted that the grocery retail industry stood out within the past year’s economy “with outsized sales growth as a result of pandemic-related demand.”
But McShane observed that upcoming months might not be as favorable to this industry.
“As economies reopen and customer demand likely shifts incrementally towards food away from home, we think the promotional environment could become more competitive in grocery throughout the coming year,” she wrote. “That, coupled with potentially rising costs from inflation, results in multiple headwinds that could pressure margins for grocers.”
Goldman Sach’s (NYSE: GS) sector overview of the retail sector highlights the impact on apparel sales in the U.S. owing to unseasonably warm weather. The Northeast region especially lagged in winter apparel sales.
J.C. Penney (NYSE: JCP) and Kohl’s (NYSE: KSS) saw a slump in the children’s apparel. Read More.
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Analyst Kate McShane cut her rating on Best Buy shares to Sell from Neutral, and shaved $10 off her price target, to $97. Justin Sullivan/Getty Images
Best Buy stock is falling early Thursday, following a downgrade from
Goldman Sachs, which warns that it could struggle to maintain its rally next year.
Analyst Kate McShane cut her rating on Best Buy shares (ticker: BBY) to Sell from Neutral, and shaved $10 off her price target, to $97. She writes that this isn’t a negative commentary on the company itself: “Best Buy is one of the best run retailers in the U.S. and continues to evolve its omnichannel, but as we look to 2021 we see risk for the stock.”