BMO Capital analyst Kelly Bania lowered the firm’s price target on Sprouts Farmers Market (SFM) to $120 from $170 and keeps a Market Perform rating on the shares. The firm notes that its downside valuation thesis has been playing out, driven by data points that suggest a weakening of same store sales, the analyst tells investors in a research note. For a high-growth retailer with white space potential focused on faster-growing Natural & Organics markets, this valuation is tempting however, BMO added.
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