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Fly News Breaks for August 2, 2019
UNFI
Aug 2, 2019 | 04:56 EDT
BMO Capital analyst Kelly Bania downgraded United Natural Foods to Underperform from Market Perform and lowered her price target for the shares to $5 from $10. The outlook for small and regional grocers is becoming "increasingly challenging in a rapidly changing" digital food retail landscape, Bania tells investors in a research note. The analyst sees risk that United Natural's customers' sales are pressured, resulting in lower adjusted EBITDA forecasts. Weak sales could pressure an "already challenging" integration of SuperValu, says Bania.
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