NEW YORK (TheStreet) -- Whole Foods Market (WFM) had its price target lowered to $41 from $55 by analysts at Citigroup (C) due to shrinking same-store sales growth.
The firm maintained a "neutral" rating on the company's shares.
Whole Foods stock has seen a steep drop this year and is down over 30% since January.
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TheStreet Ratings team rates WHOLE FOODS MARKET INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WHOLE FOODS MARKET INC (WFM) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: