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Citi Lowers Estimates And Target Price On Whole Foods

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Citi reported that it was lowering its estimates on Whole Foods Market (NASDAQ: WFM).

Citi analyst Gregory R. Badishkanian accredited the lowering due to Whole Foods Market posting a miss in same-store sales and earnings per share for the second-quarter of the 2014 fiscal-year.

Badishkanian lowered the target price to $41.00 from $55.00 and stated, "Given updated guidance and trends (including weaker than expected SSS and reduced EPS guidance), we lower our FY14-16 EPS ests by 9c, 19c, and 30c each, respectively. Lowering tgt px by $14 to reflect our lower EPS forecast and a lower target multiple."

Whole Foods Market shares were up 1.78 percent Wednesday and closed at $38.38.

Latest Ratings for WFM

Nov 2016Bank of AmericaDowngradesNeutralUnderperform
Sep 2016BarclaysInitiates Coverage onEqual-Weight
Sep 2016CitigroupMaintainsNeutral

View More Analyst Ratings for WFM
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Posted-In: Citi Gregory R BadishanianAnalyst Color Price Target Analyst Ratings


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