Information Provided By:
Fly News Breaks for April 24, 2015
WFM, SBUX, UNFI
Apr 24, 2015 | 06:52 EDT
Piper Jaffray views Starbucks' (SBUX) earnings report as a positive for United Natural Foods (UNFI) since the coffee giant's traffic has shown good correlation with Whole Foods (WFM), and Whole Foods represents 31% of United Natural sales. Piper views the recent selloff in shares of United Natural as overdone and keeps an Overweight rating on the name with an $85 price target.