Telsey Advisory Sees 5% Upside In This Grocery Chain - Read Why

• Telsey Advisory analyst Joseph Feldman has maintained Outperform rating on Albertsons Companies Inc (NYSE: ACI) with a $37.00 price target (5% upside).
• The analyst notes that the favorable macro trends, continued shift to healthy lifestyles, and benefits of a hybrid work environment would be positive for the company’s Q4 earnings.
• Feldman infers a strong business momentum given an 8% increase in U.S. food & beverages retail sales and an 8.6% growth in the Food-At-Home consumer price index in February.
• He expects Albertsons to continue to benefit from the structural shift in consumer shopping behavior toward digital and increased at-home consumption.
• Price Action: ACI shares are trading higher by 1.55% at $35.31 on the last check Friday.