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Monday, Sep 9
Wells Fargo initiates Natural Grocers at Outperform
- Wells Fargo starts Natural Grocers (NGVC) at Outperform.
- The company's "authentic natural/organic focus and low prices should drive significant share gains, and it offers one of the highest footage growth rates and lowest saturation in retail," analyst Kate Wendt says.
- Wendt also sees "solid comps" ahead amid "industry tailwinds."
- Price target is $44, good for a 22% upside from Friday's close.