United Natural Foods price target raised to $23 from $14 at BMO Capital

BMO Capital raised the firm’s price target on United Natural Foods to $23 from $14 and keeps a Market Perform rating on the shares. The company’s Q4 EBITDA topped expectations, bringing FY24 EBITDA to the high end of guidance, the analyst tells investors in a research note. United Natural Foods’ FY25 guidance points to “stable to modest growth”, which likely gave investors comfort, while the management formalized a long-term plan calling for high-single-digit annual EBITDA growth, though the flat sales expected in the coming years likely “limits valuation expansion”, BMO added.