UPDATE: Citi Raises United Natural Foods' PT

According to a research report published today, Citi has increased United Natural Foods Inc.'s UNFI PT to $53. “UNFI's 2Q12 organic sales growth (ex acquisitions) was strong, up 15.5% (2Q12 ended 1/28) vs. up 13.2% in 1Q12 (ended 10/29). Total sales were $1.29bn vs. FC of $1.26bn. The acceleration in sales was driven by the onboarding of their SWY business and growing consumer demand for natural products. EPS were 45c vs. consensus of 44c. Given updated trends and guidance, we're raising our FY12-FY14 EPS estimates and raising our target price to $53,” Citi said in the report. United Natural Foods closed yesterday at $44.24.