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SFM

Sprouts Farmers Market

$27.03

0.4 (1.50%)

06:20
11/30/18
11/30
06:20
11/30/18
06:20

CEO departure at Sprouts Farmers Market not a sign of problem, says Loop Capital

Loop Capital analyst Andrew Wolf kept his Hold rating and $29 price target on Sprouts Farmers Market after its announcement that CEO Amin Maredia is stepping down at the end of the year. While the news was "abrupt", the analyst notes that his conversations with the company's management indicates that its positive outlook "should remain intact". Wolf also contends that Sprouts' relative valuation is "reasonable" based on its fundamental growth outlook, even though the stock is the "highest valued member" of his Food Retail group.

  • 04

    Dec

SFM Sprouts Farmers Market
$27.03

0.4 (1.50%)

11/16/18
11/16/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Adobe (ADBE) initiated with a Buy at Nomura Instinet. 2. Target (TGT) was initiated with a Buy at Buckingham and an Overweight at KeyBanc. 3. Viad (VVI) initiated with a Buy at Janney Montgomery Scott. 4. Selective Insurance (SIGI) initiated with a Market Perform at JMP Securities. 5. Sprouts Farmers Market (SFM) initiated with an Underperform at Bernstein. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/16/18
BERN
11/16/18
INITIATION
Target $23
BERN
Underperform
Sprouts Farmers Market initiated with an Underperform at Bernstein
Bernstein initiated Sprouts Farmers Market with an Underperform and $23 price target.
11/05/18
LOOP
11/05/18
NO CHANGE
Target $29
LOOP
Hold
Sprouts Farmers Market price target raised to $29 from $25 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on Sprouts Farmers Market to $29, citing its "modest" Q3 earnings beat and a 1.5% increase in same store sales in spite of operating in a "deflationary environment". The analyst notes that taken with a 1.8% food price deflation, real same store sales improved to 3.3% from 3.0% in Q2, while the company's new-store productivity trend is also healthy. Wolf is positive on Sprouts as a "viable growth story in a highly competitive and evolving food retailing environment", but also keeps his Hold rating given the elevated current valuation on the stock.
09/24/18
WELS
09/24/18
DOWNGRADE
Target $26
WELS
Market Perform
Sprouts downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Edward Kelly downgraded Sprouts Farmers Market to Market Perform with an unchanged price target of $26. The stock has rallied materially since early August and now trade at its highest level since the Amazon/Whole Foods deal, Kelly tells investors in a research note. The analyst continues to view Sprouts as a solid growth story, but believes "discipline is warranted" given the intensely competitive food retail backdrop, headline risk associated with structural change, and the company's difficult back half of the year comparisons.

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