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Grocery Outlet’s off-price model is poised for growth — as long as the shelves stay stocked

Grocery Outlet Holding Corp. is poised for growth, according to Morgan Stanley analysts led by Simeon Gutman, as long as the off-price grocer can keep goods on the shelves.

Morgan Stanley was among at least four analyst initiations for Grocery Outlet GO, +4.64% on Monday; analysts there rate the stock equal-weight with a $30 price target.

Grocery Outlet shares began trading on June 20, opening 41% above the initial public offering price of $22. The stock closed Monday up 4.6% to $35.38, up more than 24% from the closing price of $28.51 on its first trading day.

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