UPDATE: Jefferies Initiates Fairway Group Holdings with Buy Rating on Upbeat Outlook

In a report published Monday, Jefferies analyst Daniel Binder initiated coverage on Fairway Group Holdings Corp. FWM with a Buy rating and $24.00 price target. In the report, Binder noted, “We are upbeat on this company and management team and believe it has a long runway for unit growth in the coming years. It has executed its growth strategy well and we are encouraged by recent comp store sales results. As the company gains scale we believe its purchasing power with vendors and ability to leverage expenses will improve.” Fairway Group Holdings Corp. closed on Friday at $18.30.