UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Whole Foods Market on Long-Term Growth Potential
In a report published Friday, Deutsche Bank reiterated its Buy rating on Whole Foods Market (NASDAQ: WFM), but lowered its price target from $105.00 to $100.00.
Deutsche Bank noted, “While EPS came in above the Street, investors were disappointed that ID's came in light and moderated 2Q-to-date and FY13 EPS guidance was only maintained. Taking a step back from the weather-related noise, we continue to view WFM's fundamentals favorably as the company remains well positioned to capitalize on growing demand for natural & organic groceries. WFM continues to improve its relative value position, which should keep traffic robust and op. margin expansion ongoing. Store growth plans remain on-track, with new stores generating solid ROIC, giving us confidence that sq. ft growth will accelerate, driving years of DD EPS growth.”
Whole Foods Market closed on Thursday at $87.49.
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