Whole Foods Market (WFM was downgraded on Monday by Tigress Financial over the lack of future rival bids for the health food grocer, which reached an agreement two months ago to sell itself to Amazon.com (AMZN - Get Report) for $13.58 billion, or $42 per share.
Tigress analyst Ivan Feinseth lowered his rating on Whole Foods' stock to "Neutral" from "Buy." Shares were moving lower in afternoon trading on Monday to about $41.79 per share.
"On June 16, 2017, WFM agreed to be acquired by Amazon.com (AMZN-US, Buy rate) for a total value of $13.58 billion or $42.00 a share in cash, which represents a 20% premium to the share price prior to the announcement," Feinseth noted. "Due to the friendly nature of the transaction, and the price at about our fair value calculation, we see no other bids emerging and the transaction is scheduled to close by the end of this year."
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