JPMorgan upgraded Sprouts Farmers Market (NASDAQ: SFM) from Neutral to Overweight with a price target of $27.00 (from $24.00).

Analyst Ken Goldman believes guidance is conservative and not reflecting the drivers related to the dwindling impact from inflation, heightened labor investment and abnormally intense competition.

FY 2017 EPS estimate rises form $0.89 to $0.94 and FY 2018 EPS estimate rises from $1.01 to $1.09.

For an analyst ratings summary and ratings history on Sprouts Farmers Market click here. For more ratings news on Sprouts Farmers Market click here.

Shares of Sprouts Farmers Market closed at $23.57 yesterday.