UPDATE: UBS Downgrades Whole Foods Market
In a report released Thursday, UBS analyst Jason DeRise downgraded Whole Foods Market (NASDAQ: WFM) from Buy to Neutral, while decreasing its price target from $48 to $41.
Analysts at UBS believe Whole Foods competition in the natural foods category has influenced its shares growth to stall. DeRise projects the organic retailer comps to be 3.3 percent in Q4 and 4.6 percent in full year 2015, from its current around nine percent.
Whole Foods price target of $41 is due to the announced reduction in comparable store sales estimate, influencing its EBITDA reduction by nearly nine percent.
Latest Ratings for WFM
|Sep 2016||Barclays||Initiates Coverage on||Equal-Weight|
|Jul 2016||Deutsche Bank||Maintains||Hold|
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