NEW YORK (TheStreet) -- Shares of Whole Foods Market (WFM) are up 8.63% to $43.44 in pre-market trading after the company's price target and annual EPS and CFPS estimates were increased at BMO Capital Markets on Thursday.
The firm said the natural and organic foods retailer's sales are accelerating, and set a price target of $42 for the company, up from its previous mark of $40.
BMO rose annual EPS estimates to $1.71 from $1.69 for fiscal 2015, and to $1.97 from $1.95 for fiscal 2016.
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The firm also reiterated its "market perform" rating for the company, set annual CFPS (cash flow per share) estimates to 84 cents from 77 cents for fiscal 2015, and to $1.26 from $1.21 for fiscal 2016.
"We continue to believe that WFM will remain one of the most innovative food retailers, yet believe the transition to a more competitively priced retailer could prove challenging for the stock," said BMO Capital Markets analyst Kelly Bania.
Separately, 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 a number of strengths, 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, growth in earnings per share, increase in net income, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."