United Natural Foods (UNFI) Target Lifted to $83 at Canaccord Genuity Post Q2

Canaccord Genuity analyst Scott Van Winkle reiterated a Buy rating and raised his price target on United Natural Foods (NASDAQ: UNFI) from $75 to $83 following second quarter results.

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." He added, "The Q2 results continued to reflect a favorable positioning in the strong natural and organic food category and support our investment thesis. The quarter was actually stronger than what was reported as we did not expect UNFI to be as challenged from weather as it was."

The analyst made no changes to his 2014 and 2015 Annual EPS estimates of $2.49 and $2.80, respectively. He increased his 2014 and 2015 Annual Revenue estimates to $6.72B and $7.39B, respectively.

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 $75.39 yesterday.

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