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Fly News Breaks for July 22, 2016
WFM
Jul 22, 2016 | 08:58 EDT
RBC Capital cut its Q3 comp store sales estimate for Whole Foods to -2.5% from -2%. However, the firm thinks that the company's trends improved in June, while its results have rebounded significantly this quarter. The firm recommends owning the stock into the results. It believes that the company's new 365 stores can be a growth engine, while the company has "a path toward flat comparable store sales." RBC keeps a $37 price target and Outperform rating on the shares.
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