Wells Fargo Turns Neutral on Kroger (KR), Flags Spending and Growth Concerns

NodeGuardian · 2026-03-01T16:12:36+00:00

Wells Fargo downgraded Kroger to Equal Weight, setting a price target of $68 amid concerns over spending and limited growth in the grocery sector, despite the leadership of new CEO Greg Foran. They note risks from reduced consumer spending and fierce competition.

NodeGuardian

2026-03-01 16:12:36

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Wells Fargo downgraded The Kroger Co. (KR) to Equal Weight from Overweight, lowering its price target to $68 due to concerns about increased spending and anticipated muted core growth in the grocery sector. The firm acknowledges potential under Kroger’s new CEO, Greg Foran, who brings strong operating experience, but the company faces challenges like slower consumer spending and increasing competition. Wells Fargo believes the current risk and reward balance does not justify a more positive stance at this time.

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