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Fly News Breaks for March 6, 2019
UNFI
Mar 6, 2019 | 06:45 EDT
Loop Capital analyst Andrew Wolf lowered his price target on United Natural Foods to $30 after its Q2 results, saying that in spite of the earnings beat, its adjusted EBITDA was "well below consensus". The analyst attributes the downside to "higher-than-anticipated distribution center network realignment expenses", but also sees Q2 as the "most challenging period for the Supervalu integration" and anticipates improved results going forward. Wolf also keeps his Buy rating on United Natural Foods and sees the shares trading at a discount relative to other members in his Food Distributor group.
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