Kroger is expected to report its first quarter earnings results on June 18, and the firm forecasts first quarter earnings of $1.21 per share, up from $1.19, Oppenheimer noted.
"We view the recent pullback in Kroger shares as a very attractive entry-point, but expect a largely range-bound trade near-term until investors get more comfortable with the inflation outlook and see a clearer path to comp upside," Oppenheimer analysts said.
The firm maintained an "outperform" rating and $80 price target on Kroger. For more on its outperforming, click here
The Kroger operates retail food, drug stores, multi-department stores, jewelry stores, and convenience stores throughout the U.S.
Separately, TheStreet Ratings team rates KROGER CO as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate KROGER CO (KR) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, solid stock price performance and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."