Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Albertsons Is Tumbling 11% Today

TheMotleyFool

0 0

Why Albertsons Is Tumbling 11% TodayPhoto, wide shot, wide-angle lens, Convenience store, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/35bdb659-cf5a-466a-95a9-428a230a2d2e.png

Shares of Albertsons (NYSE: ACI) are tumbling 11.4% in afternoon trading Thursday, after Evercore analyst Michael Montani downgraded the supermarket giant to in-line from outperform.

The downgrade follows a similar downgrade yesterday from a Wells Fargo analyst who cited valuation concerns, although he still expected tailwinds from the COVID-19 pandemic to continue providing positive results for the grocer near term.

Image source: Albertsons.

Source Fool.com

Like: 0

ACI

Share