United Natural Foods price target raised to $32 from $23 at BMO Capital

BMO Capital raised the firm’s price target on United Natural Foods (UNFI) to $32 from $23 and keeps a Market Perform rating on the shares after its Q1 earnings beat. The company’s results were supported by new business wins and operating expense leverage, the analyst tells investors in a research note. In the near term, United Natural should benefit from 3%-4% less DC square footage, though its longer-term top-line concerns remain, the firm added.