UBS raised the firm’s price target on United Natural Foods (UNFI) to $31 from $21 and keeps a Neutral rating on the shares. United Natural Foods took a step forward in Q1 and returned to volume growth, a trend that’s continued into Q2, the analyst tells investors in a research note. Its SG&A progress and cash flow improvements were supported by the company’s focus on improved asset utilization and its lean initiatives, the firm adds.
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