UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on United Natural Foods
In a report published Monday, Goldman Sachs Group reiterated its Neutral rating on United Natural Foods (NASDAQ: UNFI), and slightly raised its price target from $57.00 to $58.00.
Goldman Sachs noted, “UNFI reported adjusted EPS of $0.46 (ex. $0.03 one-time items), in line with GS and consensus. Sales momentum remained strong while weaker gross margin was fully offset by better SG&A leverage, resulting in a flat EBIT margin. Management reiterated its FY13 forecast for EPS of $2.14-$2.24 on sales growth of 12.3%-14.2%. The in line results and reiterated guidance saw a muted response as the shares traded down on the day 0.6% vs. a flat S&P 500.”
United Natural Foods closed on Friday at $51.77.
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