In a report published Monday, Citigroup analyst Gregory R. Badishkanian reiterated a Buy rating on UNFI, and raised the price target from $64.00 to $80.00.
In the report, Citigroup noted, “We rate United Natural Foods Buy. United Natural Foods, the largest natural food distributor, not only benefits from operating within the rapidly growing natural food industry, but also has been gaining market share, in our view. We therefore expect UNFI to experience internally generated revenue growth in mid to high single digit range in the next few years. In addition, we believe UNFI has a decent margin improvement opportunity due to greater operating leverage on robust top-line growth.”
United Natural Foods closed on Friday at $67.73.
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