UPDATE: Goldman Sachs Raises The Fresh Market's PT

According to a research report published this morning, Goldman Sachs has increased The Fresh Market's

PT from $47 to $53. In the report, Goldman Sachs said, "TFM reported impressive 1Q EPS of $0.40, above GS/consensus of $0.36/$0.35. Fundamentals were universally better than expected, including accelerating comp growth at 8.2%, impressive new store productivity, and strong flow through from 80bp of gross margin expansion. Management raised FY12 guidance to $1.28-$1.34 from $1.26-$1.31, as it now expects 4.5%-6.5% comp growth (4%-6% prior) and 20-40bp of operating margin expansion (10-30bp prior). We are raising our FY12E/FY13E/FY14E EPS to $1.36/$1.69/$2.05 from $1.31/$1.60/$1.93 as we flow through the beat, factor in sustained comp growth, and anticipate further margin expansion." Goldman Sachs maintains its Neutral rating on The Fresh Market, which closed yesterday at $56.15.