Barclays is updating its fourth quarter and fiscal 2018 view of Whole Foods Market Inc. (WFM) following its surprise third quarter earnings beat.
Barclays, which already has an "overweight" rating and $48 price target on the grocer, raised the company's fourth quarter earnings estimate to 24 cents per share from 21 cents per share while also increasing its fiscal 2018 EPS estimate to $1.45 per share from $1.40 per share.
Whole Foods reported third quarter comps declined 1.9% in the quarter, slimmer than the 2.5% decline Barclays' analysts were expecting.
Whole Foods shares were down 0.1% to $41.77 in late morning trading Thursday.
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