UBS raised the firm’s price target on Sprouts Farmers Market to $45 from $39 and keeps a Neutral rating on the shares post the Q3 report. The analyst believes Sprouts continues to execute well, benefiting from its strategic investments over the past few years in its real estate portfolio and merchandising enhancements. Further, the company is proving to be more insulated from some of the macro pressures relative to other grocers, as its core customer base is more affluent and places a particular emphasis on healthy living, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SFM:
- Sprouts Farmers Market price target raised to $39 from $38 at Roth MKM
- Sprouts Farmers Market appoints Curtis Valentine as chief financial officer
- Sprouts Farmers Market raises FY23 EPS view to $2.77-$2.81 from $2.68-$2.76
- Sprouts Farmers Market sees Q4 adjusted EPS 42c-46c, consensus 43c
- Sprouts Farmers Market reports Q3 adjusted EPS 65c, consensus 62c