BMO Capital Raises Price Target on United Natural Foods (UNFI) Following 3Q

BMO Capital reiterated a Market Perform rating on United Natural Foods (NASDAQ: UNFI), and raised the price target to $42.00, following the company's 3Q earnings report. UNFI reported EPS of $0.76 reflecting better-than-expected operating margins.

Analyst Kelly Bania commented, "We believe UNFI’s core growth outlook could improve as initiatives to grow sales in perimeter categories gain traction; however, we maintain our Market Perform rating as we expect ongoing volatility in sales trends as large, direct-sourcing retailers (such as COST and KR) continue to gain market share in theN&O category. Additionally, we see risks associated with ongoing supermarket consolidation (Ahold-Delhaize merger expected to close mid-2016)."

For an analyst ratings summary and ratings history on United Natural Foods click here. For more ratings news on United Natural Foods click here.

Shares of United Natural Foods closed at $38.83 yesterday.

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