Fly News Breaks for June 6, 2019
Jun 6, 2019 | 09:24 EDT
Buckingham analyst Eric Larson lowered his price target for United Natural Foods to $11 from $17 and maintained a Neutral rating following the company's Q3 results, saying EBITDA and free cash flow estimate disunion is likely to remain high for at least the next 6-9 months, leaving reduced visibility as the primary valuation overhang. Given the large number of moving pieces and potentially high execution risk, Larson tells investors in a research note that he thinks the stock will remain volatile near-term.
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