Market Overview

UPDATE: Goldman Sachs Lowers PT on United Natural Foods on Costs and Labor Dispute

Related UNFI
Natural Foods Sector Up On Sprouts' Q2 Results, Improved Outlook
Morgan Stanley Initiates Coverage On Food Retailers, Dollar Stores

In a report published Wednesday, Goldman Sachs maintained its Neutral rating and lowered its price target on United Natural Food (NASDAQ: UNFI) from $58 to $51, citing softer sales growth and limited flow through.

Goldman Sachs reported that, “UNFI reported a noisy F2Q13: EPS fell below GS/consensus estimates, but were largely in-line when excluding costs related to a union labor dispute. Additionally, management revised its adjusted FY13 EPS guidance to $2.15-$2.21 from its prior $2.14-$2.24, but the new range includes a greater impact of the labor dispute. Shares traded down 4.8% on the day vs. the S&P 500 up 0.6% as the market reacted to softening top-line trends and was unwilling to look through the one-time expenses."

United Natural Foods shares at $50.45 on Tuesday.

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings


Most Popular

Related Articles (UNFI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters