Cruising on momentum from a well-received earnings report, Kroger (KR 2.79%) stock pushed nearly 3% higher on Monday. Much of this lift came from a clutch of price targets from analysts following the stock. That rise was higher than the 0.9% bump of the benchmark S&P 500 index that day.

A series of analyst moves

It was easy to be bullish on Kroger as the trading week kicked off; the supermarket king's first-quarter results (published Friday morning) was considered a winner. The company beat the consensus analyst estimate for earnings and only missed slightly on revenue. More encouragingly, it raised its top-line guidance for the entirety of this year.

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Several pundits wasted little time Monday upping their price targets on Kroger as a result. Among the more bullish analysts was Telsey's Joseph Feldman, who now feels Kroger is worth $82 per share, considerably up from his previous $73 fair-value estimation.

According to reports, Feldman wrote that Kroger management continues to execute very effectively, particularly in pushing its store brands and supporting its customer loyalty program. He also expressed admiration for the company having managed to grow per-share earnings despite a period of relatively shaky consumer sentiment.

Bargain buy

Kroger is indeed doing well as indicated by its solid quarterly results and per Feldman's analysis. The company also looks relatively cheap on valuations these days. While that growth isn't likely to pop at any point, it's one of the better plays in the food retail space. To me, it's certainly worth considering as a buy.