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UPDATE: Sterne Agee Downgrades The Fresh Market On Struggles To Build Brand Equity

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In a report published Friday, Sterne Agee analyst Charles Grom downgraded The Fresh Market (NASDAQ: TFM) from a Buy rating to a Neutral rating and lowered the price target from $59.00 to $44.00.

In the report, Sterne Agee says "TFM is a great concept in markets where shoppers know the brand. Unfortunately, its growing pains outside its core SE base have been painful (and could continue to be) as: 1) TFM struggles to build brand equity acquiring new shoppers and 2) competition heats up. This could lead to lower 4-wall returns going forward and/or TFM lowering its LT store goal of 500 locations. Layer a more fragile shopper into the mix and these issues are amplified. We are downgrading to Neutral as a result."

The Fresh Market closed on Friday at $50.40.

Latest Ratings for TFM

DateFirmActionFromTo
Jan 2015Cowen & CompanyInitiates Coverage onMarket Perform
Jan 2015JP MorganUpgradesNeutralOverweight
Nov 2014JP MorganMaintainsNeutral

View More Analyst Ratings for TFM
View the Latest Analyst Ratings

Posted-In: Charles Grom Sterne AgeeAnalyst Color Downgrades Analyst Ratings

 

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