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RBC Capital Cut Price Target on United Natural Foods (UNFI) Following 3Q Results

June 9, 2015 7:03 AM

RBC Capital reiterates an Underperform rating on United Natural Foods (NASDAQ: UNFI), and cut the price target to $59.00 (from $69.00), following the 3Q15 results. UNFI reported EPS of $0.83 compared to $0.85 consensus. Revenue was $2.11bn vs $2.14bn consensus.

Analyst William Kirk commented, "We are lowering our price target to $59 (from $69) and our operating estimates (FY16E EPS to $3.15 from $3.24). In the near term, we believe UNFI's growth will remain subdued as consumer trends shift away from its largest accounts. We believe there is opportunity to recapture those consumers as they become more immersed in the Natural/Organic lifestyle, but with negative margin consequences for UNFI."

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 $63.66 yesterday.

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