Sprouts Farmers Market price target raised to $36 from $35 at Evercore ISI

Evercore ISI raised the firm’s price target on Sprouts Farmers Market to $36 from $35 and keeps an Underperform rating on the shares ahead of the company’s Q3 report due on October 31. The firm believes investors are looking for comps in the 2.5%-3% range and EPS at 64c and says that its read of the data and industry trends suggests Q3 comp growth and EPS are “likely to come in around investor expectations.” However, its consumer purchase intent survey trended lower for Sprouts in September, while early reads on October suggest industry softening, added the analyst.