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Fly News Breaks for November 12, 2018
SVU, UNFI
Nov 12, 2018 | 06:22 EDT
Loop Capital analyst Andrew Wolf lowered his price target on United Natural Foods (UNFI) to $40 after his discussions with its CEO Steve Spinner suggested that the integration of the Supervalu (SVU) acquisition could be "more complex" than anticipated. The analyst still believes in the "strategic rational" for the merger, as the combined entity becomes the "second largest grocery wholesaler in the nation" and the only one that can provide a "full suite of conventional, specialty and natural products". Wolf is keeping his Buy rating on United Natural Foods longer term.
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