Sprouts Farmers Market (SFM) PT, Est. Lowered at Jefferies on Disappointment; Long-Term Story Remains
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies analyst Christopher Mandeville lowered estimates and his price target on Sprouts Farmers Market (NASDAQ: SFM) to $23.00 (from $24.00) but maintained a Buy rating. The analyst said the long-term story remains.
Mandeville commented, "The 3Q print was a mixed bag with solid comps but weak margins/earnings. Additionally, while the low-end of comp guidance was raised, this still implies worsening 4Q trends. With any high multiple name, an earnings miss is expected to be met with disapproval; however, we view the reaction as overdone and given our belief in SFM's solid 10-12% L-T EBITDA growth, we believe shares can rerate higher once elevated cannibalization/deflation/elevated promos abate."
The firm trimmed Q4 EPS from $0.14 to $0.13, FY16 from $0.86 to $0.85 and FY17 from $0.97 to $0.92.
Shares of Sprouts Farmers Market closed at $20.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
- Oppenheimer Raises Price Target on CarMax (KMX) to $72 Ahead of 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!