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