#4 - Kroger (NYSE:KR)
Moving on from general retailers, we turn our attention to specialty retailers. Consumers notice inflation the most in terms of the gas they put in their cars and the groceries they buy. Kroger (NYSE:KR) has been a stealth stock to buy in 2022. KR stock is up 36% in 2022 easily outpacing the broader market.
One reason for this, argues an analyst from Bank of America (NYSE:BAC) is the grocery chain’s ability to pass along costs to consumers. It’s also an option for consumers who are concerned about food shortages. However, Bank of America is alone in its bullish outlook and there is some concern that KR stock’s best growth is behind it.
But even if inflation pressures ease, there’s still a likelihood that the economy is going to be in a recession. But if that occurs, it would be a bullish catalyst for Kroger which is a great choice as a defensive stock.
About Kroger
The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
Read More - Current Price
- $59.22
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $60.09 (1.5% Upside)
