UBS Misses Whole Foods (WFMI) Rally, Then Upgrades the Stock

UBS is a little late to the Whole Foods Market party. (NASDAQ: WFMI), since the stock is already up 30% year to date, since Whole Foods surprised the market with higher earnings a few weeks ago. Their price target is 36 and WFMI is already trading at $36.47. One wonders if the upgrade is the typical analyst B.S. when they miss the story. Perhaps he just doesn't like natural foods.

UBS upgrades Whole Foods Market (Nasdaq: WFMI) from Sell to Neutral. Price target increased from $16 to $36.

UBS analyst says, "After solid Q1 results, we become more constructive on medium-term outlook...remain cautious, but think shares look solid here...believe sustainability of comps could improve along with the broader economic recovery..."