Sprouts Farmers Market price target raised to $45 from $33 at Wells Fargo

Wells Fargo analyst Edward Kelly raised the firm’s price target on Sprouts Farmers Market to $45 from $33 and keeps an Underweight rating on the shares. The firm sees a choppiness ahead for its traditionally defensive sector, given fundamental concerns and soft-landing optimism. Selectivity seems key, Wells argues, saying it favors names best positioned to navigate the risky backdrop and those with idiosyncratic tailwinds.