Market Overview

Sprouts Leading Fresh Grocer Group Higher; Wedbush Started Coverage With Outperform

Related SFM
Morgan Stanley Predicts Strong Growth In Organic Food
Mid-Morning Market Update: Markets Edge Lower; D.R. Horton Posts Downbeat Profit
Related TFM
Longbow Resumes Coverage On Specialty Food Names, Organic Grocers
UPDATE: Credit Suisse Reiterates On The Fresh Market On Mixed Factors

Shares of Sprouts Farmers Market (NYSE: SFM) are the sole name in the Fresh or Organic Grocer sector which traded in positive territory for a majority of Thursday's session. Traders are attributing strength in the stock to some bullish comments from Wedbush analyst Kurt Frederick earlier this morning.

Frederick initiated coverage on a number of names in the group:

  • Sprouts with an Outperform rating and $37 price target;
  • Whole Foods (NASDAQ: WFM) with a Neutral and $40 target;
  • The Fresh Market (NASDAQ: TFM) with a Neutral and $34 target; and
  • Natural Grocers by Vitamin Cottage (NYSE: NGVC) with a Neutral and $19 target.

(Click the names of the companies above to find a full-length report on each new rating.)

While Sprouts shares are now trading down a few pennies to $30.86, the stock traded as high as $31.10 earlier, up more than six percent. Elsewhere in the sector, shares of Whole Foods are down about 1.9 percent to $39.05, shares of The Fresh Market are down 1.4 percent to $33.96 and shares of Natural Grocers by Vitamin Cottage are down more than four percent to $17.93.

Latest Ratings for SFM

DateFirmActionFromTo
Dec 2014Longbow ResearchInitiates Coverage onUnderperform
Sep 2014BarclaysInitiates Coverage onOverweight
Sep 2014Piper JaffrayInitiates Coverage onNeutral

View More Analyst Ratings for SFM
View the Latest Analyst Ratings

Posted-In: Analyst Color News Price Target Initiation Analyst Ratings

 

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