JPMorgan downgrades Whole Foods Market


JPMorgan downgrades Whole Foods Market (NASDAQ:WFM) to a Neutral rating from Overweight following the release of FQ3 results from the grocery store operator.

Decelerating comps and margin pressures are a concern to BofA.

WFM -3.7% premarket to $37.70.

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Comments (2)
  • Sean Emory
    , contributor
    Comments (119) | Send Message
     
    The report states "Although we appreciate the risk in downgrading when the stock may be approaching the bottom of a multi-quarter slide,"
    31 Jul 2014, 07:52 AM Reply Like
  • Sean Emory
    , contributor
    Comments (119) | Send Message
     
    Another statement from the analyst "We have spoken with numerous investors who seemed interested in buying WFM after yesterday’s print because top line comparisons ease from here. "
    31 Jul 2014, 07:58 AM Reply Like
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