Fly News Breaks for July 23, 2019
Jul 23, 2019 | 07:51 EDT
As previously reported, Oppenheimer analyst Rupesh Parikh downgraded Sprouts Farmers Market to Perform from Outperform ahead of quarterly results. The analyst cited his assessment of potentially more muted profit growth going forward coupled with increasing uncertainty on the management and competitive fronts. Parikh points out that Sprouts Farmers shares have meaningfully re-rated lower lately similar to other grocers, and he is harder pressed to see a shift near term. Nonetheless, he still looks favorably upon the company's unit growth prospects and the potential for a takeout down the road.
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