Deutsche Bank Upgrades The Fresh Market (TFM) to Buy; Recent Dip Offers Opportunity
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Price: $28.51 --0%
Rating Summary:
4 Buy, 16 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 4 | New: 5
Rating Summary:
4 Buy, 16 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 4 | New: 5
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Deutsche Bank upgraded The Fresh Market (NASDAQ: TFM) from Hold to Buy, raises price target to $61.00.
Deutsche analyst said, "With shares off ~13% from its 52-wk high and short interest elevated at 13.5%, we are upgrading TFM to Buy as we believe 1Q ID sales strength
has continued into 2Q, providing for expense leverage above our prior view. To be honest, our confidence mainly stems from WFM's +9.5% ID QTD, a 270 bps sequential acceleration on a 2-yr basis. As a reminder, TFM has a 92% correlation with WFM's 2-yr ID's. Moreover, TFM possesses meaningful (5x) store expansion opportunity. Net, the combination of (1) HSD ID’s, (2) low teen sq. ft. growth, and (3) margin expansion opportunity supports our 33x target multiple and $61 PT, which implies ~20% upside."
For an analyst ratings summary and ratings history on The Fresh Market click here. For more ratings news on The Fresh Market click here.
Shares of The Fresh Market closed at $51.37 yesterday.
Deutsche analyst said, "With shares off ~13% from its 52-wk high and short interest elevated at 13.5%, we are upgrading TFM to Buy as we believe 1Q ID sales strength
has continued into 2Q, providing for expense leverage above our prior view. To be honest, our confidence mainly stems from WFM's +9.5% ID QTD, a 270 bps sequential acceleration on a 2-yr basis. As a reminder, TFM has a 92% correlation with WFM's 2-yr ID's. Moreover, TFM possesses meaningful (5x) store expansion opportunity. Net, the combination of (1) HSD ID’s, (2) low teen sq. ft. growth, and (3) margin expansion opportunity supports our 33x target multiple and $61 PT, which implies ~20% upside."
For an analyst ratings summary and ratings history on The Fresh Market click here. For more ratings news on The Fresh Market click here.
Shares of The Fresh Market closed at $51.37 yesterday.
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