Jefferies Upgrades Whole Foods Market (WFM) to Buy On Strong Comp Momentum

Jefferies upgraded Whole Foods Market (NASDAQ: WFM) from Hold to Buy with a price target of $90 (up from $68).

The firm comments, "We are upgrading Whole Foods to Buy and raising our price target to $90 (about 30x our CY13 EPS estimate) due to surprisingly strong comp momentum, a robust real estate pipeline and, in our opinion, significant opportunity to grow margins. Indeed, we now believe that the company can see much better earnings growth than we had anticipated, suggesting investors will be well rewarded for owning the equity"

For more ratings news on Whole Foods Market click here and for the rating history of Whole Foods Market click here.

Shares of Whole Foods Market closed at $69.23 yesterday.

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