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Bernstein adds bearish voice to boxed-in Sprouts

Nov. 15, 2018 7:20 PM ETSprouts Farmers Market, Inc. (SFM) StockSFMBy: Jason Aycock, SA News Editor2 Comments
  • Sprouts Farmers Market (NASDAQ:SFM) has gotten an initiation at Underperform by Bernstein, which sees some limits to the company's fresh-format footprint around the country.
  • "Sprouts faces declining comps and margins due to its imperfect positioning in a highly discretionary and slowing sub-industry," says analyst Brandon Fletcher, who's adding his bearish voice to that of Goldman Sachs. The company faces competition not only from regional players in the markets it's trying to enter, but also "blended online/offline grocery formats poised to take share." (h/t Bloomberg)
  • The firm has a price target of $23, implying 16.4% further downside.
  • Shares fell 3.7% today; they're down 0.7% after hours.

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