Wells Fargo Starts Whole Foods Market (WFM) at Outperform
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Price: $41.99 --0%
Rating Summary:
6 Buy, 25 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 25 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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After the close, Wells Fargo initiated coverage on Whole Foods Market (NASDAQ: WFM) with a Outperform. PT $111.50.
The analyst comments, "We believe Whole Foods is one of the best sustainable growth stores in retail, with sales growth likely to not only continue but accelerate given: (1) strong demand trends from the increasing adoption of natural and organic foods, (2) Whole Foods' efforts to lower prices, which we found to be the key impediment to organic purchases; and (3) ramping new store growth. 89% of those we surveyed said they don't shop at Whole Foods because there isn't a store nearby (59%) or prices are too high (30%) and the company is implementing strategies to address both of these barriers."
Wells is establishing FY2012E and FY2013E EPS of $2.52 and $2.91.
For an analyst ratings summary and ratings history on Whole Foods Market click here. For more ratings news on Whole Foods Market click here.
Shares of Whole Foods Market closed at $95.94 yesterday.
The analyst comments, "We believe Whole Foods is one of the best sustainable growth stores in retail, with sales growth likely to not only continue but accelerate given: (1) strong demand trends from the increasing adoption of natural and organic foods, (2) Whole Foods' efforts to lower prices, which we found to be the key impediment to organic purchases; and (3) ramping new store growth. 89% of those we surveyed said they don't shop at Whole Foods because there isn't a store nearby (59%) or prices are too high (30%) and the company is implementing strategies to address both of these barriers."
Wells is establishing FY2012E and FY2013E EPS of $2.52 and $2.91.
For an analyst ratings summary and ratings history on Whole Foods Market click here. For more ratings news on Whole Foods Market click here.
Shares of Whole Foods Market closed at $95.94 yesterday.
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