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Fly News Breaks for July 27, 2018
SVU, UNFI
Jul 27, 2018 | 06:27 EDT
Loop Capital analyst Andrew Wolf lowered his price target on United Natural Foods (UNFI) to $55, citing expectations of a significant leverage increase from the company's surprising $2.9B acquisition of Supervalu (SVU). Wolf also keeps his Buy rating on United Natural Foods, saying the deal marks an acceleration of the company's current acquisition strategy in an effort to diversify its product and customer mix. The analyst is positive on the deal as "Supervalu is particularly strong in certain specialty food categories in which United Natural Foods is lacking."
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