Hapoalim Maintains Neutral on Whole Foods Market (WFMI)

Hapoalim is out with its report today on Whole Foods Market WFMI, maintaining Neutral. In a note to clients, Hapoalim writes, "We maintain our Neutral rating and $60 PT. Even with our above consensus estimates for FY11, investors are likely going to require an implied two-year ID sales growth target of 18% or higher in 2H11 in order to warrant further multiple expansion. This compares to 11.6% in two-year idents reported for 1Q11 and our est. of 16.2% for 2Q." At the time of posting, shares of WFMI were trading at $60.55, down 3.52% from Friday's close.