Citi Turns Bearish On This Grocery Giant - Read Why

• Citi analyst Paul Lejuez downgraded Kroger Co (NYSE:KR) to Sell from Neutral with a price target of $42, down from $47, implying a 4% downside.
• The company has been viewed as a defensive name within retail, but this does not reflect the risks Kroger faces in 2022 and beyond, Paul Lejuez said.
• The risks include the normalization of food at home versus away from home as the U.S. economy reopens, inflationary pressures that may not be easy to pass along to the consumer, and a "difficult-to-anniversary benefit" from vaccines that drove traffic, sales, and margins in 2021.
• Price Action: KR shares traded lower by 3.35% at $43.88 on the last check Friday.