Safeway PT Raised to $40.00 at Deutsche Bank (SWY)
Research analysts at Deutsche Bank raised their target price on shares of Safeway (NYSE:SWY) to $40.00 in a report released on Friday, ARN reports. Deutsche Bank’s price target would suggest a potential upside of 26.70% from the company’s current price.
Shares of Safeway (NYSE:SWY) traded up 5.00% during mid-day trading on Friday, hitting $33.15. 7,445,621 shares of the company’s stock traded hands. Safeway has a 52-week low of $15.38 and a 52-week high of $32.72. The stock’s 50-day moving average is $29.1 and its 200-day moving average is $25.86. The company has a market cap of $7.913 billion and a price-to-earnings ratio of 14.36. Safeway also was the target of some unusual options trading on Thursday. Traders acquired 8,908 put options on the stock. This is an increase of 305% compared to the average daily volume of 2,198 put options.
Safeway (NYSE:SWY) last posted its quarterly earnings results on Thursday, October 10th. The company reported $0.10 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.18 by $0.08. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the company posted $0.16 earnings per share. Safeway’s revenue was up 1.1% compared to the same quarter last year. Analysts expect that Safeway will post $1.09 EPS for the current fiscal year.
A number of other firms have also recently commented on SWY. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Safeway in a research note to investors on Friday. They now have a $40.00 price target on the stock, up previously from $34.00. Separately, analysts at Telsey Advisory Group raised their price target on shares of Safeway from $30.00 to $35.00 in a research note to investors on Friday. They now have a “not rated” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Safeway from $32.00 to $35.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Safeway has a consensus rating of “Hold” and a consensus price target of $32.08.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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