Jefferies Upgrades Sprouts Farmers Market (SFM) to Buy
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Jefferies upgraded Sprouts Farmers Market (NASDAQ: SFM) from Hold to Buy with a price target of $24.00.
Analyst Christopher Mandeville commented, "We view SFM's low-price nat/org format as ideal for L-T mkt. share gains and with a recent reset in N-T expectations, we see limited downside/an attractive buying opportunity for a name with 12-14% EBITDA growth. At the very least, SFM could prove to be a relative outperformer until N-T pressures abate as a robust Fall harvest should afford the company to engage in its core competencies and drive solid traffic gains via a healthy promo schedule."
Shares of Sprouts Farmers Market closed at $19.99 yesterday.
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