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UPDATE: Goldman Sachs Upgrades Whole Foods Market to Buy on Positive Trends

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Goldman Sachs raised its rating on Whole Foods Market (NASDAQ: WFM) from Neutral to Buy and raised its price target from $105 to $106.

Goldman Sachs noted, "[W]e believe that WFM is ideally positioned to benefit from the secular trends in healthy eating. Our upgrade is based on: (1) greater confidence in sustained +HSD comp growth and square footage growth within the rapidly growing natural and organic industry, (2) opportunity for EBIT margin expansion from improved sales productivity and fixed cost leverage, and (3) an attractive entry point at 30X NTM EPS, which has been a valuation floor."

Whole Foods Market closed at $91.41 on Monday.

Latest Ratings for WFM

DateFirmActionFromTo
Nov 2016Bank of AmericaDowngradesNeutralUnderperform
Sep 2016BarclaysInitiates Coverage onEqual-Weight
Sep 2016CitigroupMaintainsNeutral

View More Analyst Ratings for WFM
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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