UPDATE: Credit Suisse Initiates Coverage on Sprouts Farmers Market with Neutral Rating, $37 PT on Compelling Growth Story

In a report published Tuesday, Credit Suisse analyst Edward J. Kelly initiated coverage on Sprouts Farmers Market SFM with a Neutral rating and $37.00 price target. In the report, Credit Suisse noted, “We are initiating coverage on SFM with a Neutral rating and a $37 target price. We view SFM as one of the most compelling growth stories in consumer given its differentiated high-return model, strong leverage to the healthy living trend, large new store opportunity, and robust earnings momentum. That said, the market clearly appreciates the company's outlook, as the stock is up sharply after its IPO and trades at a large premium to its peers.” Sprouts Farmers Market closed on Monday at $39.03.