Goldman Sachs Resumes Whole Foods Coverage; Neutral-Rated, $47 PT

Goldman Sachs is resuming coverage of Whole Foods Market, Inc. WFMI with a Neutral rating and a 12-month price target of $47, equating to 4% downside. “WFMI offers a compelling fundamental story as it is poised to benefit from ongoing secular trends of healthy eating that should power meaningful square footage growth and margin expansion opportunity,” Goldman Sachs writes. “However, the shares' premium valuation keeps us sidelined.” Whole Foods Market closed Tuesday at $48.78.