Evercore ISI raised the firm’s price target on Sprouts Farmers Market to $30 from $29 and keeps an Underperform rating on the shares. The company’s Q1 beat reflects double digit inflation pass through and margin expansion in a favorable grocery backdrop, but the firm’s concerns remain around medium-to-long-term potential share slip due to outsized California exposure, comp ticket pressure from disinflation, unit declines, price perception and potential recession pressure.
Published first on TheFly
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