NEW YORK (AP) -- An analyst has upgraded Winn-Dixie Stores, citing the grocery-store chain's stable competitive environment and plan to boost profit.
Analyst Karen Short boosted her rating on the Jacksonville, Fla., company to "Outperform" from "Market Perform" and her price target to $20 from $16. The new target implies she expects shares to jump 29 percent above Tuesday's $15.50 close.
The upgrade comes after Publix Super Market agreed earlier this month to buy 49 Albertson stores in Florida. Short said the sale effectively eliminated Winn-Dixie's competitors in those locations. Winn-Dixie operates stores in Florida, Georgia, Alabama, Louisiana and Mississippi.