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Kroger Stock Looks Poised to Surge Despite Analyst Comments
Grocery retailer Kroger Co (NYSE:KR) is down 1.2% at $40.45 this afternoon, though it earned a price-target hike from Morgan Stanley to $34 from $31 earlier. Despite the bull note, the analyst in coverage said the stock is starting to normalize after a strong 2020, noting that an industry sales slowdown in 2022 is unappreciated on Wall Street. There may still be hope for the security in the short-term, though, as KR just pulled back to a trendline with historically bullish implications, which could boost the shares in the coming weeks.