United Natural Foods (UNFI) PT Raised to $14 at Roth/MKM

Roth/MKM analyst Bill Kirk raised the price target on United Natural Foods (NYSE: UNFI) to $14.00 (from $13.00) while maintaining a Neutral rating.

The analyst comments "UNFI reported a mixed 3Q (topline in-line/earnings ahead) and raised FY'24 profitability guidance. Pressures remain (less inflation, re-positioning retail, subdued promotions), but profitability has gradually improved. With a new media platform, focus on high-margin services offerings, and efficiency programs, we believe consensus earnings outlook is safe (FY'25 EPS $0.61). UNFI offers unique access-to-market to many suppliers and confers scale benefits otherwise unavailable to retailers. Eventually, profitability should better match contribution to the vertical. We reiterate our Neutral rating and raise PT to $14 (from $13)."

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