## Sprouts Farmers Market Stock Price Rises Due to Positive Forecast
Sprouts Farmers Market (SFM) stock value increased on Monday as Wall Street becomes more optimistic about the grocery store chain’s possibilities.
Deutsche Bank mentioned confidence in same-store sales expansion, driven by a better product selection, the continuing healthy diet trend, and an upcoming rewards program. Experts believe SFM merits a valuation more similar to wholesale retailers like Costco than conventional supermarkets. The reason: Deutsche Bank raised the stock from “neutral” to “purchase,” establishing a $190 price objective – a considerable 40% increase over Friday’s closing price and higher than Visible Alpha’s $175 estimate. SFM shares recently rose more than 3% to exceed $140, bringing year-to-date gains to approximately 11%, though still short of the 2025 peak near $180.
The business anticipates full-year net sales and comparable store sales growth of 11.5% and 5.5%, in that order. February’s 2024 figures revealed a strong 13% sales gain and almost 8% comparable sales growth.
“We’ve been supporters of the narrative and management team for a while but were waiting for a superior entry opportunity,” experts stated. “We think that moment has arrived.”
Visible Alpha monitors four experts with “purchase” ratings on Sprouts Farmers Market and five with “neutral” ratings.
