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Fly News Breaks for June 7, 2016
UNFI
Jun 7, 2016 | 07:29 EDT
Oppenheimer analyst Rupesh Parikh raised his price target for United Natural Foods to $41 from $35 following "much" better than feared Q3 results. The analyst is encouraged by the more aggressive steps taken by the company to reposition the business the past few quarters. However, he sees the intermediate-term earnings outlook as "very cloudy," with positive M&A accretion appearing to offset a still challenging core business. Parikh reiterates a Perform rating on the shares.
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