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SVU

Supervalu

$20.09

-0.13 (-0.64%)

18:00
06/12/18
06/12
18:00
06/12/18
18:00

Supervalu announces proposal to reorganize corporate structure

Supervalu announced a proposal to reorganize the Company's corporate structure to further facilitate the Company's strategic transformation, among other benefits to stockholders. This proposal, as outlined in SUPERVALU's preliminary proxy statement/prospectus filed today, would result in a reorganization of the Company's corporate structure into a holding company structure. The holding company structure is being proposed to: Organize and further segregate SUPERVALU's wholesale and retail operations in an operationally efficient and strategic manner, including to separate the wholesale and retail operations held by SUPERVALU, our current public company entity; facilitate the Company's previously announced strategic transformation plan to sell certain retail assets to third parties; better segregate the liabilities of the Company into their respective business segments; Increase SUPERVALU's strategic, business and financial flexibility; and enable the Company to achieve its strategic transformation plan in a tax efficient manner that may facilitate the ability to utilize a material portion of SUPERVALU's capital loss carryforward, which could generate approximately $300 million of cash tax benefits for the Company over the next approximately 15 years.

SVU Supervalu
$20.09

-0.13 (-0.64%)

04/17/18
FBCO
04/17/18
INITIATION
FBCO
Underperform
Supervalu initiated with an Underperform at Credit Suisse
Credit Suisse analyst Judah Frommer initiated Supervalu with an Underperform rating and $15 price target, saying he sees limited ability to grow EBITDA in the near term due to an inferior customer base, as well as lost Albertsons TSA revenue.
04/05/18
GSCO
04/05/18
NO CHANGE
Target $14
GSCO
Sell
Supervalu maintained a Sell, target to $14 at Goldman Sachs
Goldman analyst Christopher Prykull retierated his Sell rating on Supervalue and trimmed his price target to $14 from $15 saying he continues to have fundamental concerns across each segment. Prykull acknowledges risk/reward appears positive near-term with the upcoming sale-leaseback update likely on the Q4 report, but said the secular backdrop for independent grocery and competition remains fierce.
11/14/17
11/14/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kroger (KR) assumed with a Neutral at Goldman Sachs. 2. Dollar General (DG) assumed with a Neutral at Goldman Sachs. 3. Sea Limited (SE) was initiated with an Outperform at Cowen, an Overweight at Piper Jaffray, a Buy at Goldman Sachs and Stifel, and an Equal Weight at Morgan Stanley. 4. Supervalu (SVU) assumed with a Sell at Goldman Sachs. 5. Celanese (CE) initiated with a Buy at Tudor Pickering. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/17
GSCO
11/14/17
INITIATION
Target $14
GSCO
Sell
Supervalu assumed with a Sell at Goldman Sachs
Goldman analyst Christopher Prykull assumed coverage on Supervalu with a Sell and $14 price target. Prykull expects retail to underperform given increasing competition, pricing gaps, and under-investment in stores and said Wholesale faces a challenged end market. The analyst also sees EBITDA headwinds from waning transition service agreement revenue and limited cost offsets.

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