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Fly News Breaks for March 2, 2018
SPTN
Mar 2, 2018 | 06:12 EDT
As reported earlier, BMO Capital analyst Kelly Baria upgraded SpartanNash to Outperform, citing a "compelling" combination of valuation and improving performance across the company's segments after its decision to reinvest half of the tax savings. Baria says the 7-times expected FY18 EPS PE is the lowest valuation since 2009 and sees a potential rebound to 10-times PE this year. The analyst also trims her price target on SpartanNash to $23 from $25 based on her valuation model.
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