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Fly News Breaks for March 20, 2017
Mar 20, 2017 | 08:21 EDT
After Bloomberg reported that Cerberus Capital Management-backed Albertsons held preliminary talks to merge with Sprouts Farmers Market, Jefferies analyst Christopher Mandeville says historical transactions suggest a $26 per share takeout price for Sprouts. The stock in pre-market trading is up 5%, or $1.13, to $23.15. If Sprouts is willing to sell itself, multiple suitors, both financial and strategic, could show interest, leading to a competitive bidding process that could potentially push the valuation higher than $26 per share, Mandeville tells investors in a research note. The company, as one of the last few growth concepts remaining in grocery, should "receive a very healthy valuation," the analyst argues. He has a Buy rating on Sprouts with a $22 price target.
News For SFM From the Last 2 Days
Oct 17, 2017 | 10:43 EDT
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Groupon (GRPN) initiated with a Buy at Gabelli. 2. HP Enterprise (HPE) initiated with a Hold at Pivotal Research. 3. Celgene (CELG) initiated with an Outperform at Bernstein. 4. Aerohive (HIVE) initiated with a Buy at Craig-Hallum. 5. Sprouts Farmers Market (SFM) initiated with a Positive at Susquehanna. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
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