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Sprouts Farmers Market price target lowered to $170 from $180 at BMO Capital

BMO Capital lowered the firm’s price target on Sprouts Farmers Market (SFM) to $170 from $180 and keeps a Market Perform rating on the shares. The company reported another quarter of strong 10% comps and greater-than-expected gross margin expansion, pointing to continued market share gains, though the commentary about plans for a 2-yr stack of 15% points to a modest comp deceleration, with margin tailwinds potentially not as robust into the second half of the year, the analyst tells investors in a research note.

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