Whole Foods Market (WFM)
by Zacks Equity ResearchNovember 08, 2011 | Comments : 0 Recommended this article: (0)
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Cost containment efforts, effective inventory management, and improved store-level performance are driving earnings growth. The company reiterated its fiscal 2012 outlook, and projected sales increase in a band of 13% to 15% and earnings growth in the range of 15% to 17%.
Moreover, a prudent capital investment is also translating into improved cash flows with a lower debt level and a healthy balance sheet. We maintain our long-term Outperform recommendation on the stock. Our target price of $76.00, 33.8X 2012 EPS, reflects this view.
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