UPDATE: M Partners Downgrades United Natural Foods to Hold
M Partners lowers its rating on United Natural Foods (NASDAQ: UNFI) to Hold from Buy, while maintaining its price target at $46.25, ahead of tomorrow's earnings.
M Partners note, "An incremental growth beyond our expectations will need to be primarily organic in nature and driven in the conventional and independent sectors. New customer wins can also provide a significant step up but they are difficult to predict and even after they are secured, ramp up periods to full profitability often takes a number of quarters."
UNFI closed at $44.72 a share on Wednesday.
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