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UPDATE: Goldman Sachs Raises PT on The Fresh Market Following 2Q13 EPS Report

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In a report published Thursday, Goldman Sachs analyst Stephen Grambling reiterated a Buy rating on The Fresh Market (NASDAQ: TFM), and raised the price target from $60.00 to $65.00.

In the report, Goldman Sachs noted, “TFM reported 2Q13 EPS of $0.32, below GS of $0.33 but in line with consensus as better-than-expected 3.4% comps were offset by greater-than-expected gross margin pressure. After adjusting for a lease accounting change, EBIT was also in line, growing 11% yoy. Management raised its comp guidance to 3.0-4.5% from the prior 2.5-4% and raised store openings to the high-end of the prior range. However, FY13 EPS guidance was lowered to $1.50-$1.55 vs. prior $1.51-$1.58 to account for incremental costs in 2H13 from opening stores earlier in FY14.”

The Fresh Market closed on Thursday at $54.28.

Latest Ratings for TFM

DateFirmActionFromTo
Nov 2014JP MorganMaintainsNeutral
Nov 2014Longbow ResearchAssumesUnderperform
Nov 2014Credit SuisseMaintainsUnderperform

View More Analyst Ratings for TFM
View the Latest Analyst Ratings

Posted-In: Goldman Sachs Stephen GramblingAnalyst Color Price Target Analyst Ratings

 

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