UPDATE: Goldman Sachs Raises PT on The Fresh Market Following 2Q13 EPS Report
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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.