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Fly News Breaks for June 8, 2018
UNFI
Jun 8, 2018 | 07:16 EDT
BMO Capital analyst Kelly Bania lowered her price target for United Natural Foods to $41, telling investors in a research note that despite the headline Q3 EPS beat, she believes underlying quality of the quarter was "concerning," as the benefit of stronger sales from lower-margin Whole Foods appears to be pressuring margins and may be coming at the cost of weaker sales with United Natural's smaller/higher-margin customers. This, along with a significant cut to its free cash flow outlook, leaves her Market Perform rated.
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