UPDATE: Goldman Sachs Initiates Coverage on Sprouts Farmers Market on Long-Term Growth Potential
In a report published Tuesday, Goldman Sachs analyst Stephen Grambling initiated coverage on Sprouts Farmers Market (NASDAQ: SFM) with a Neutral rating and $33.00 price target.
In the report, Goldman Sachs noted, “We initiate coverage of Sprouts Farmers Market (SFM) – a rapidly growing value-oriented, specialty food retailer – with a Neutral rating and see 15% downside to our $33, 12-month price target. While we are attracted to SFM's long-term growth potential and competitive position, the market has quickly appreciated this growth with shares currently trading at 79X our NTM EPS estimates, a meaningful premium to the specialty peer group average of 42X (NGVC, TFM, and WFM). Therefore, we would await a better entry point to potentially become more constructive, all else equal.”
Sprouts Farmers Market closed on Monday at $39.03.
Latest Ratings for SFM
|May 2016||Goldman Sachs||Downgrades||Neutral||Sell|
|Apr 2016||Wolfe Research||Upgrades||Peer Perform||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.