Goldman Sachs double upgraded Sprouts Farmers Market to Buy from Sell with a price target of $49, up from $37. The analyst cites improving new store trends and easy volume compares for the double upgrade. Sprouts has executed better than expected amid its transformation focusing on health enthusiasts, the analyst tells investors in a research note. Goldman likes the stock’s relative risk/reward compared to the rest of its coverage at this point, noting it forecasts limited earnings growth across the group in 2024.
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