Morgan Stanley Sees Risk/Reward As Still Unattractive For The Fresh Market

In a report published Friday, Morgan Stanley analyst Vincent J. Sinisi reiterated an Underweight rating and $30.00 price target on

. In the report, Morgan Stanley noted, “2Q results do not signal a change in the fundamentals of TFM, which are still uncertain, in our view. Expectations were low heading into the quarter (stock down ~3% last two trading days, short interest remains elevated), so results coming in just ahead of estimates will likely cause shares to be up tomorrow. Importantly,commentary around adverse effects from competitor openings reaffirm our belief that TFM has not yet found its way to truly differentiate itself in the market. We maintain our UW rating, $30 PT.” The Fresh Market closed on Thursday at $30.43.