Market Overview

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

Share:
Related SFM
Benzinga's Top Initiations
Amazon Stock Rising After Detwiler Fenton Comments
Sprouts joining S&P 400; shares +6.2% (Seeking Alpha)
Related TFM
16 Stocks Moving In Friday's After-Hours Session
Vetr Crowd Upgrades Whole Foods To Strong Buy

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
Feb 2016OTR GlobalUpgradesNeutralMixed
Jan 2016Wells FargoInitiates Coverage onOutperform
Nov 2015Deutsche BankMaintainsBuy

View More Analyst Ratings for SFM
View the Latest Analyst Ratings

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

 

Related Articles (NGVC + SFM)

View Comments and Join the Discussion!

Get Benzinga's Newsletters