** Kroger KR.N narrowed annual sales forecast on Thursday on signs of shoppers turning more selective on their groceries and fresh produce purchases, while leaning more on promotions

** At least five analysts cut PT following results

** Median PT of 24 brokerages is $75.50

GROWTH HINGES ON ECOMMERCE PROFITABILITY

** Jefferies ("buy," PT: $80) notes demand for fresh produce and online sales as bright spots alongside cost discipline while competition remains an "overhang"

** J.P.Morgan ("neutral," PT: $71) says Kroger was upbeat on improving competitive edge, e-commerce profitability and store investments, but faces risk from softer industry trends and fierce competition

** Telsey Advisory Group ("outperform," PT: $80) flags longer-term risks from Kroger's reliance on third-party delivery firms, warning they could turn into rivals, as Instacart is building its own grocery network, or hurt Kroger’s brand with poor service

** UBS ("neutral," PT: $70) believes business trajectory remains "unclear" as KR will need to rely on its ecommerce and pharmacy segments to drive sales, pressuring its profitability

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))