01:25 PM EST, 03/07/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target by $11 to $59, 13x our FY 25 (Jan.) EPS of $4.54 (up from $4.35; we set FY 26 at $4.74) vs. the 14x long-term average. FQ4 (Jan-Q) adj-EPS of $1.34 beat the $1.13 consensus. Excluding the extra week, FQ4 adj-EPS grew 15% Y/Y to $1.14. Identical sales (ex-fuel) fell 0.8% Y/Y but would have been up 0.1% Y/Y if not for the terminated Express Scripts contract. KR will be cycling the Express Scripts headwind in FY 25, along with the reduction in enhanced SNAP benefits (ended nationwide in March 2023). The earnings beat was due to strong gross margins, driven by Our Brands , sourcing benefits, and lower supply chain costs, which more than offset increased price investments and higher shrink (e.g., theft). The outlook for FY 25 was in line with or slightly better than expectations. KR expects positive unit growth and about 1% inflation. Units are currently negative, but have improved for five consecutive quarters.