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Benzinga
Benzinga
Business
Shivani Kumaresan

BofA Downgrades This Grocery Store Operator

BofA GO Grocery Outlet Robert Ohmes
  • BofA analyst Robert Ohmes downgraded Grocery Outlet Holding Corp (NASDAQ:GO) to Underperform from Neutral with a price target of $23, down from $26.
  • The analyst expects the company to have challenges on sales and margins in 2022.
  • Ohmes added that the valuation of Grocery Outlet is extended based on its return on invested capital relative to its peers under his coverage.
  • Price Action: GO shares are trading lower by 2.79% at $24.74 in premarket on the last check Wednesday.
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