UPDATE: Citigroup Reiterates Buy Rating, Raises PT on United Natural Foods
In a report published Wednesday, Citigroup reiterated its Buy rating on United Natural Foods (NASDAQ: UNFI), and slightly raised its price target from $63.00 to $64.00.
Citigroup noted, “We rate United Natural Foods Buy. United Natural Foods, the largest natural food distributor, not only benefits from operating within the rapidly growing natural food industry, but also has been gaining market share, in our view. We therefore expect UNFI to experience internally generated revenue growth in mid to high single digit range in the next few years. In addition, we believe UNFI has a decent margin improvement opportunity due to greater operating leverage on robust top-line growth.”
United Natural Foods closed on Tuesday at $55.24.
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