As previously reported, BofA double upgraded Sprouts Farmers Market to Buy from Underperform with a price target of $70, up from $30, citing a raised 2025 EPS estimate and a higher multiple to reflect Sprouts’ shift to a higher store growth rate and higher sustained gross margin outlook. Despite the firm’s previous concerns, the reset customer base and margin profile “appear sustainable” as Sprouts gains scale and sees lessening competition, the analyst tells investors.
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