Whole Foods (WFM) PT Bumped to $43 at Jefferies Post Q4

Jefferies analyst Mark Wiltamuth bumped his price target on Whole Foods Market (NASDAQ: WFM) to $43.00 (from $41.00) following Q4 results but maintained a Hold rating.

Wiltamuth commented, "Whole Foods showed 4Q14 EPS upside and QTD comp improvement as price cuts and a new ad campaign kicked in. As we anticipated, price/gross margin reductions will accelerate into F2015 (down more than the 30bp in F2014), but management expects to offset it with cost control. Implied F2015 guidance for 10%+ EPS growth is in-line to modestly above $1.70 consensus. Given the lower growth profile we do not find the 25x P/E attractive."

The firm raised FY 2015 EPS from $1.65 to $1.66 and FY 2016 EPS from $1.88 to $1.89.

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 $39.99 yesterday.

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