United Natural Foods price target lowered to $15 from $22 at Roth MKM

Roth MKM analyst Bill Kirk lowered the firm’s price target on United Natural Foods to $15 from $22 and keeps a Neutral rating on the shares. The company gave weaker than expected FY24 guidance, though the most difficult quarters should be in the first half of the year and stock still offers unique access-to-market value to many suppliers, the analyst tells investors in a research note. The firm further contends that United Natural’s profitability “does not match its importance to the U.S. grocery industry”.