Sprouts Farmers Market, Inc. (NASDAQ:SFM) is one of the 10 best organic food and farming stocks to buy now. On June 9, UBS reiterated a ‘Neutral’ rating on the stock and a $196 price target. The research firm remains optimistic about the company’s prospects in the niche US food retail sector valued at $290 billion.
Since 2020, Sprouts Farmers has switched its focus from price-sensitive customers. According to UBS, realignment towards a customer base focused on health and dietary attributes is already paying dividends. Consequently, the research firm’s ‘Neutral’ rating underscores the recognition of Sprouts Farmer’s solid position in a specialized market segment.
The pivot has already resulted in revenue growing by 15.5% over the last 12 months. In return, the company is experiencing benefits from its comp waterfall strategy, which is fueling same-store sales growth.
Sprouts Farmers Market, Inc. is a grocery chain that specializes in fresh, natural, and organic foods. It provides a wide variety of healthy and affordable products, including produce, bulk foods, vitamins and supplements, and natural household items.
READ NEXT: 13 Best Blue Chip Stocks to Buy According to Analysts and 10 Most Undervalued Gold Stocks to Buy According To Analysts.
This article is originally published at Insider Monkey.
