UPDATE: Jefferies Raises PT to $53 on United Natural Foods

Jefferies increases its price target $9 to $53 on Buy-rated United Natural Foods

following updates to the company's model. Jefferies says, "UNFI has grown to dominate natural/organic and specialty distribution over the past few years, in essence becoming the vital backbone of the slow-turning (but fast growing) natural/organic and specialty food-at-home vertical. Indeed, we believe the strong secular trends, along with UNFI's growing dominance and coming technology upgrades throughout its distribution network will drive strong sales and EPS performance over the long term." UNFI closed at $46.24 a share on Monday.