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[$Pistol Pete$]

$ACI Albertsons initiated with an Overweight at Wells Fargo Wells Fargo analyst Edward Kelly initiated coverage of Albertsons with an Overweight rating and $18 price target. While grocery retailing is a "tough business," Albertsons provides an attractive risk/reward given that food at home demand should remain elevated well into 2021 and its national/local scale, Kelly tells investors in a research note. The analyst believes the stock's valuation points to a favorable setup.

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