Canaccord Genuity Reiterates a 'Buy' on United Natural Foods (UNFI); Raises PT and Estimates on Higher Margin Outlook

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Canaccord Genuity reiterates a 'Buy' on United Natural Foods (NASDAQ: UNFI) price target of $58.00 (from $50.00).

Analyst, Scott Van Winkle, said, "The robust natural/organic category growth, coupled with UNFI’s position as the leading distributor in the sector, should deliver strong sales/earnings growth."

"Raising F2012 and F2013 EPS estimates to $1.95 and $2.27 from $1.91 and $2.17, respectively, driven by a modest increase in our revenue forecasts and extra week in F2013, but most importantly a higher operating margin forecast."

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 $52.00 yesterday, with a 52 week range of $32.83-$53.99.

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