Barclays Maintains an 'Equalweight' on United Natural Foods (UNFI); Q2 Preview

Barclays maintains an 'Equalweight' on United Natural Foods (NASDAQ: UNFI) price target of $38.00.

Analyst, Meredith Adler, said, "Our 2Q12 EPS estimate is $0.44, in line with consensus. We estimate 2Q12 sales of $1.25 billion, an increase of 12.0%. Our estimate takes into account ~$20 million from selling the non-foods business; we are not sure if all estimates reflect the divestiture. Excluding an estimated $55 million from the addition of SWY as a customer and the divested non-foods business, we are forecasting core sales growth of 9% across all divisions."

Adler feels that the current valuation (23x FY12 EPS estimate) keeps Barclays at EW rated.

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 $46.01 yesterday.

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