UPDATE: Deutsche Bank Lowers PT on Sprouts Farmers Market Following Culver City Store Tour
In a report published Monday, Deutsche Bank analyst Karen Short reiterated a Buy rating on Sprouts Farmers Market (NASDAQ: SFM), but lowered the price target from $52.00 to $45.00.
In the report, Deutsche Bank noted, “Last week, we had the opportunity to host a Sprouts store tour in Culver City (Los Angeles) with CFO Amin Maredia and several investors. During the tour and in our subsequent meeting, we gained a greater understanding of the many initiatives underway to drive both sales and margins, and given these opportunities believe the comp and margin story remains extremely robust for many years to come. We came away from the meeting extremely excited about the story, and reiterate our Buy rating.”
Sprouts Farmers Market closed on Friday at $36.29.
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