Jefferies Upgrades Sprouts Farmers Market (SFM) to Buy

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."

For an analyst ratings summary and ratings history on Sprouts Farmers Market click here. For more ratings news on Sprouts Farmers Market click here.

Shares of Sprouts Farmers Market closed at $19.99 yesterday.

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