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Albertsons Companies Downgraded to Perform at RBC Capital
Oct 12, 2021 12:05 AM - Davit Kirakosyan
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Albertsons Companies, Inc. (NYSE:ACI) was downgraded to perform from outperform at RBC Capital, as the brokerage believes the upside case is already reflected in shares, noting that the company’s shares increased 59% since the start of the year compared to a 17% increase in the S&P 500.
Looking forward to the upcoming Q2 earnings day (Oct 18), analysts at RBC Capital anticipate another beat-and-raise quarter, mentioning that they are focused on forward gross margin commentary and expect increasing GM headwinds.
Despite moving to the sidelines, the analysts said they continue to positively view the turnaround efforts from the company’s management thus far and believe the long-term algorithm remains intact.
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