Bank of America Changes Estimates On United Natural Foods, Inc.

Bank of America released a research report on United Natural Foods, Inc.

announcing an estimate change. In the report Bank of America writes, “We believe UNFI has a solid F2012 outlook, supported by ongoing market share gains given: 1) an encouraging start to F1Q12 with sales trends running above expectations; 2) the addition of UNFI's largest customer win in several years – Safeway (estimated $200MM annual business starting in Oct); & 3) solid trends in the independent channel (+12% ex-acquisitions in F4Q11 vs. ~8% the previous two quarters).” Bank of America has a Buy rating and a price objective of $48.00 on United Natural Foods, Inc., which closed yesterday at $38.55.