Jefferies Upgrades United Natural Foods (UNFI) to Buy

Jefferies upgraded United Natural Foods (NASDAQ: UNFI) from Hold to Buy with a price target of $41.00.

The firm comments, "Indeed, we believe that sales growth is strong, while the on-boarding of new customers is proceeding generally on plan. With the stock off about 25%, however, market expectations seem to imply a sales slowdown and/or meaningful margin challenges, neither of which appears likely. Further, valuation is now attractive with the PE below the 3-year average."

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 $34.32 yesterday.

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