Sprouts Farmers Market (SFM)

[realfast95]

What Made Oppenheimer Upgrade Sprouts Farmers’ Stock?
By Jason Carr

[Sprouts Farmers (NASDAQ: SFM)] In a report released today, Rupesh Parikh from Oppenheimer upgraded Sprouts Farmers (NASDAQ: SFM) to Buy, with a price target of $24. The company’s shares opened today at $20.30.

Parikh wrote:

“We view the SFM sell-off today as an attractive entry point to get involved with a very high quality retailer. On a fundamental basis, we believe the company remains well positioned on its own and there is also takeout potential down the road. As we have written in the past, we see a takeout value as high as ~$30 (please see our 3/20/17 note titled Thoughts on SFM Speculation). With WFM now seemingly out of the mix as a takeout, SFM could be the next target out there. Please see our notes titled Thoughts on SFM Speculation for takeout views and Q1 Preview: Will Q1 Represent a Bottom in Comps? for fundamental views.”

Rupesh Parikh, 5 star ranked analyst.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.2% and a 61.4% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Life Time Fitness, and Bob Evans Farms.

Currently, the analyst consensus on Sprouts Farmers is Strong Buy and the average price target is $25.29, representing a 24.6% upside.

In a report issued on June 13, Jefferies also reiterated a Buy rating on the stock with a $26 price target.

The company has a one year high of $25.98 and a one year low of $17.38. Currently, Sprouts Farmers has an average volume of 3.11M.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Sprouts Farmers Markets, Inc. engages in the operation of healthy grocery store that offers fresh, natural and organic food. Its products include fresh produce, bulk foods, vitamins and supplements, grocery, meat and seafood, deli, bakery, dairy, frozen foods, body care and natural household items. The company was founded by Stan Boney and Shon Alexander Boney on July 11, 2002 and is headquartered in Phoenix,

http://www.analystratings.com/2017/06/16/what-made-oppenheimer-upgrade-sprouts-farmers-stock/488268/