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Fly News Breaks for October 30, 2018
Oct 30, 2018 | 06:05 EDT
Goldman Sachs analyst Christopher Prykull reinstated coverage of United Natural Foods with a Sell rating and $19 price target. The analyst sees 14% downside and downgraded the shares from his prior rating of Neutral. United Natural is "caught in the middle" of both sector and cyclical headwinds as its financial leverage has increased due to the acquisition of Supervalu, a deal the analyst believes has "substantial integration risk." While the natural and organic industry is still outpacing overall food retail sales, it is showing signs of maturation, says Prykull.
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