Citi Lowers Estimates And Target Price On Whole Foods
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 2016||Bank of America||Downgrades||Neutral||Underperform|
|Sep 2016||Barclays||Initiates Coverage on||Equal-Weight|
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