UBS Downgrades Whole Foods Market to Neutral

In a report released Thursday, UBS analyst Jason DeRise downgrades Whole Foods Market, Inc.

from Buy to Neutral, while decreasing its price target from $48 to $41 a share. Analyst at UBS believe Whole Foods competition in the natural foods category has influenced its shares growth to holt. DeRise projects the organic retailer comps to be 3.3 percent in Q4 and 4.6 percent in full year 2015, from its current around 9 percent. Whole Foods price target of $41 a share is due to the announced reduction in comparable store sales estimate, influencing its an EBITDA reduction by nearly 8 to 9 percent.