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Why Grocery Outlet Stock Withered on Wednesday

TheMotleyFool 
0 0 12.03.26
Why Grocery Outlet Stock Withered on WednesdayPhoto, wide shot, wide-angle lens, Restaurant, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/6d1f34ee-79e7-4628-b30f-0a4597808d61.png
 

March isn't turning out to be a very good month for Grocery Outlet Holding (NASDAQ: GO). After recovering slightly from last week's swoon, the discount food retailer again dipped into the red on Wednesday. Its shares lost nearly 2% of their value that trading session, following an analyst's price target cut.

The person with the scissors was Robert Ohmes of Bank of America Securities. He reduced his fair value assessment for Grocery Outlet to $10.50 per share from his preceding $13. In doing so, he maintained his neutral recommendation on the stock.

Image source: Getty Images.

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Source Fool.com

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