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$ACI Albertsons initiated with an Outperform at Telsey Advisory Group; tgt $26
10:18 AM ET 7/21/20 | Briefing.com
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12:56 PM ET 7/21/20
Symbol Last % Chg
ACI
15.72 0.80%
Real time quote.
. Telsey Advisory Group initiates ACI with an Outperform and price target of $26.
Analyst Joseph Feldman said, "Albertsons is in the early stages of a transformation that should drive market share gains, earnings growth, and free cash flow for multiple years.
This, combined with the current attractive valuation, offers an opportunity for ACI shares to Outperform.
Albertsons should continue to benefit from the structural shift in consumer shopping behavior toward digital, increased at-home consumption, and ongoing consolidation.
Sustainable growth also should be driven by transformative initiatives, like enhanced merchandising,
renewed focus on loyalty, and new digital and omni-channel capabilities. The plan to leverage data analytics and alternative businesses should provide further upside.
These actions are likely to make Albertsons long-term targets-ID sales of 2.25%, EBITDA growth of 3%-5%, lower interest expense,
EPS growth of HSD, and total shareholder return (TSR) of double-digits-prove conservative.
Importantly, Albertsons has improved its balance sheet, with a reduced leverage ratio, and should generate solid free cash flow.
Albertsons, in our view, deserve a higher valuation, more like Kroger and other food retailers, given its transformation and stable outlook.
As such, our 12-month price target of $26 is based on applying an EV/EBITDA multiple of ~7x to our adjusted 2021 EBITDA of $3.2B.
This implies a P/E multiple of ~17x to our adjusted 2021 EPS estimate of $1.53."
Recent ACI News
- Kroger Announces Commencement of Exchange Offers and Consent Solicitations for Albertsons Companies Notes • PR Newswire (US) • 08/15/2024 08:54:00 PM
- UBS Beats Earnings Forecasts, Intel Divests Arm Holdings, Flutter Surges 9% in Premarket Trading, and More • IH Market News • 08/14/2024 09:56:35 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 11:00:40 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 08/13/2024 10:29:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 10:11:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 10:10:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 10:09:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 10:02:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 10:01:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 09:58:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 09:55:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 08:06:04 PM
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- Albertsons Companies Earns Top Score on 2024 Disability Equality Index • Business Wire • 07/24/2024 01:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/23/2024 12:33:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 12:31:32 PM
- Albertsons Companies, Inc. Reports First Quarter Fiscal 2024 Results • Business Wire • 07/23/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/16/2024 09:30:04 PM
- Albertsons Companies Announces Common Stock Dividend • Business Wire • 07/11/2024 01:00:00 PM
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- Albertsons Companies to Release First Quarter Fiscal 2024 Earnings on July 23, 2024 • Business Wire • 07/09/2024 08:00:00 PM
- Grubhub Partners with Albertsons Companies for Nationwide Grocery Delivery • PR Newswire (US) • 06/25/2024 01:00:00 PM
- Albertsons Media Collective Launches Collective TV - Powered by First-Party Data, Closed-Loop Measurement, Shoppable Ads and Premium Inventory • Business Wire • 06/13/2024 01:00:00 PM
- Leading Nonprofits Join Albertsons Companies Foundation in a First-of-Its-Kind Initiative to Tackle Summer Hunger Among Children in the U.S. • Business Wire • 06/12/2024 01:00:00 PM
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