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Kroger (KR) Stock Down, Rating Cut at BMO

NEW YORK (TheStreet) -- Shares of Kroger (KR) are falling by 2.91% to $33.03 in mid-morning trading, after the company's stock rating was cut to "market perform" from "outperform" at BMO Capital Markets earlier today.

The firm also lowered the Cincinnati-based retailer's price target to $35 from $45.

The downgrade comes as "grocery deflationary pressures are too hard to ignore and make share price outperformance difficult given the pressure on SSS and associated deleveraging impact on the income statement," the firm wrote.

Potential upsides for Kroger...


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