Credit Suisse Upgrades Safeway to “Outperform” (SWY)
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.
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