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Fly News Breaks for August 14, 2015
WFM
Aug 14, 2015 | 06:54 EDT
Pivotal Research analyst Ajay Jain initiated Whole Foods with a Sell rating and $29 price target. Jain said competitive store openings and competitive pricing pressures will impact comps near-term and sees the potential for comps to turn negative in Q1 2016. The recent weight and pricing investigation has further exacerbated challenges with Whole Food's price image with customers and the reputational damage could have longer-term implications, according to Jain. He believes further weakness in operating performance will have balance sheet implications and is not sure the company can continue to fund store develop plans 100% internally.
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