Sprouts Farmers Market price target raised to $89 from $78 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Sprouts Farmers Market to $89 from $78 and keeps a Buy rating on the shares ahead of its Q2 results. The company is well positioned to continue to gain market share in a variety of macro backdrops given its differentiated assortment across the natural and organic grocery landscape, while its customer base should be more resilient as they are committed to specific diets and skew upper income, the analyst tells investors in a research note. The firm adds that the Google search trends for Sprouts have largely tracked higher y/y, and the gap widened recently.