Grocery Outlet up after Jefferies upgrade

Shares of discount retailer Grocery Outlet Holding Corp GO.O rise 6.1% to $14.74

Jefferies upgrades GO's rating to "buy" from "hold"; raises PT to $18 from $13

GO's defensive positioning as a low-price grocer could drive outperformance during periods of economic uncertainty - Jefferies

Jefferies believes GO is well-positioned for growth due to its strong value proposition and differentiated business model (opportunistic sourcing and independent operator structure)

On tariff exposure, GO imports produce from Mexico, and though this does create uncertainty, Jefferies estimates FY25 adj. EBITDA margin of 5.7%, vs consensus of 5.6%

Two of 15 brokerages rate the stock "buy" or higher, 11 "hold" and two "sell"; their median PT is $14.50, according to data compiled by LSEG

Up to last close, GO stock down 11% YTD