Why Albertsons Is Tumbling 11% Today
Shares of Albertsons (NYSE: ACI) are tumbling 11.4% in afternoon trading Thursday, after Evercore analyst Michael Montani downgraded the supermarket giant to in-line from outperform.
The downgrade follows a similar downgrade yesterday from a Wells Fargo analyst who cited valuation concerns, although he still expected tailwinds from the COVID-19 pandemic to continue providing positive results for the grocer near term.
Image source: Albertsons.
Source Fool.com