Sprouts Farmers Market downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank analyst Krisztina Katai downgraded Sprouts Farmers Market to Hold from Buy with a price target of $42, down from $45. The analyst sees a more balanced risk/ reward following the meaningful share price appreciation over the last 12 months. The shares are up nearly 20% over the last month alone, the analyst points out. The firm acknowledges ongoing solid fundamentals ahead of Sprouts’ Q2 results and expects another “beat and raise.” However, it believes the shares are factoring this in at current levels.