United Natural Foods (UNFI) PT Raised to $23 at BMO Capital

BMO Capital analyst Kelly Bania raised the price target on United Natural Foods (NYSE: UNFI) to $23.00 (from $14.00) while maintaining a Market Perform rating.

The analyst commented, "F4Q24 EBITDA beat expectations and brought the FY24 EBITDA to the high end of guidance, though EBITDA still declined by double digits for a second year. FY25 guidance points to stable to modest growth, which likely gave investors comfort and management formalized a long-term plan calling for HSD% annual EBITDA growth on FLAT Sales in coming years, which likely limits valuation expansion and still carries GM% risks, in our view. We reiterate our Market Perform rating yet raise our target price to $23."

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