Credit Suisse Upgrades Safeway to "Outperform" (SWY)

Credit Suisse Upgrades Safeway to “Outperform” (SWY)

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On Friday, Credit Suisse announced that it has upgraded food and drug retailer Safeway Inc. (SWY).

The firm has raised its rating on SWY from “Underperform” to “Outperform” due a a valuation call. Analysts currently have a $34 price target on SWY, which suggests a 17% increase from the stock’s current price of $28.20.

Safeway shares were up $1.65, or 6.21%, during Friday morning trading. The stock is up 56% YTD.

The Bottom Line

Shares of Safeway Inc. (SWY) have a 3.01% yield based on Thursday’s closing price of $26.59.

Safeway Inc. (SWY) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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