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Morgan Stanley Upgrades Whole Foods to “Overweight”; Sees Impressive Growth Through 2015 (WFM)

By Dividend.com,  August 03, 2012, 08:42:17 AM EDT

Natural and organic foods supermarket retailer Whole Foods Market, Inc. ( WFM ) on Friday caught a big upgrade from analysts at Morgan Stanley.

The firm boosted its rating on WFM from "Equal-weight" to "Overweight" with a $110 price target, suggesting an 18% upside to the stock's Thursday closing price of $92.91. Morgan Stanley noted it believes the company can deliver 19% annual earnings growth through 2015.

Last month, WFM posted better-than-expected second quarter earnings results and lifted its full-year outlook. The stock has jumped over 33% year-to-date.

Whole Foods shares rose $1.59, or +1.7%, in premarket trading Friday.

The Bottom Line
Shares of Whole Foods Market ( WFM ) have a .60% dividend yield, based on last night's closing stock price of $92.91. The stock has technical support in the $84-$85 price area. The stock is trading near all-time highs of $97 a share.

Whole Foods Market, Inc. ( WFM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: WFM



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