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Fly News Breaks for July 21, 2015
UNFI
Jul 21, 2015 | 08:01 EDT
After United Natural Foods announced that its contract with Albertsons Companies will end in September, Stephens estimated that Albertsons represented $16.3M of EBITDA and 16c per share to its earnings and lowered its FY16 view to account for the loss. Stephens said that while the loss is disappointing, the firm believe investors have begun focusing on United's free cash flow. The firm lowered its price target to $72 from $76 but maintains an Overweight rating on the stock.