RBC Capital Reiterates Outperform on Whole Foods Market (WFM) Following 4Q Results
RBC Capital reiterated an Outperform rating and $37.00 price target on Whole Foods Market (NASDAQ: WFM) following the company's 4Q earnings report. Whole Foods reported adjusted EPS of $0.28 on $3.50bn of revenue, compared to consensus estimates of $0.24 and $3.51bn, respectively.
Analyst William Kirk commented, "We are encouraged by WFM's ability to control expenses, allowing for increased marketing spend, while also maintaining earnings power. With some earnings surety, investors can begin focusing on strategic initiatives such as: promotional capabilities, 365 incremental customer recruitment, marketing programs and value initiatives. We remain Outperform rated with a $37 Price Target."
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Shares of Whole Foods Market closed at $28.51 yesterday.