Investment analysts at Deutsche Bank (NYSE: DB) raised their target price on shares of The Fresh Market (NYSE: TFM) from $45.00 to $49.00 in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the stock.
The analysts wrote, “TFM printed a solid 1Q beat & FY12 guidance Raise, which they really needed to support a 37x P/E multiple, in our view. The strength/quality was broad-based. To this end, the +8.2% comp was the best in years and was led by traffic (+5.7%), which is encouraging. Also, GPM was much better-than-expected, while core SG&A levered nicely, helped by lower store-level compensation. FY12 EPS guidance was raised. Net, a solid, clean print for TFM, which is also a nice lateral read for Whole Foods.”
Shares of The Fresh Market traded up 13.57% during mid-day trading on Wednesday, hitting $55.49. The Fresh Market has a 52 week low of $30.86 and a 52 week high of $54.57. The company has a market cap of $2.666 billion and a P/E ratio of 45.66.
The Fresh Market last announced its earnings results on Wednesday, May 30th. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.05. The Fresh Market’s revenue was up 22.8% compared to the same quarter last year. On average, analysts predict that The Fresh Market will post $0.26 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley (NYSE: MS) raised their price target on shares of The Fresh Market from $54.00 to $62.00 in a research note to investors on Friday, April 27th. They now have an “overweight” rating on the stock. Separately, analysts at Longbow Research initiated coverage on shares of The Fresh Market in a research note to investors on Friday, April 13rd. They set a “neutral” rating on the stock. Finally, analysts at UBS AG (NYSE: UBS) initiated coverage on shares of The Fresh Market in a research note to investors on Tuesday, March 13rd. They set a “buy” rating and a $54.00 price target on the stock.
The Fresh Market, Inc. is a specialty retailer. As of April 30, 2010, the Company operated 95 stores in 19 states, primarily in the Southeast, Midwest and Mid-Atlantic United States.