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Fly News Breaks for July 30, 2015
WFM, UNFI
Jul 30, 2015 | 06:45 EDT
Piper Jaffray analyst Sean Naughton says the slowdown in same store sales trends reported last night by Whole Foods (WFM) is likely to bring down shares of United Natural Foods (UNFI). Shares of United Natural have sold off over the last two weeks due to contract losses with some of its top retail partners, Naughton tells investors in a research note. He cut his price target for shares to $56 from $67 but keeps an Overweight rating on the name. Naughton views United Food's risk/reward as attractive at current levels.
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