Goldman Sachs Reduces PT on Sprouts Farmers Market (SFM) to $152 From $178, Sets a Buy Rating

Sprouts Farmers Market, Inc. (NASDAQ:SFM) is one of the best stocks to buy with over 50% upside potential. On October 31, Goldman Sachs analyst Leah Jordan reduced the price target on Sprouts Farmers Market, Inc. (NASDAQ:SFM) to $152 from $178, setting a Buy rating.

Was Jim Cramer Right About Sprouts Farmers Market, Inc. (SFM)?

The rating came after Sprouts Farmers Market, Inc. (NASDAQ:SFM) reported its fiscal Q3 earnings highlights on October 29, with net sales for the quarter totaling $2.2 billion and reflecting a 13% growth from the prior year period. Comparable store sales experienced a 5.9% growth, while diluted earnings per share reached $1.22, compared to $0.91 in the same period last year.

Sprouts Farmers Market, Inc. (NASDAQ:SFM) opened 9 new stores in the quarter, resulting in 464 stores in 24 US states as of September 28.

Sprouts Farmers Market, Inc. (NASDAQ:SFM) is a specialty natural and organic food retailer that offers a specialty grocery experience. Its products are made of organic, plant-based, gluten-free, and similar lifestyle-friendly ingredients. The company operates around 407 stores in 23 states.

While we acknowledge the potential of SFM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SFM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.