Sprouts Increases Sales and Earnings Guidance Modestly; Shares Still Fairly Valued
No-moat Sprouts increased its full-year guidance modestly ahead of its ICR presentation on Jan. 8, but we don’t view this update as sufficiently material to warrant a change to our $24 fair value estimate. The firm sees fiscal 2017 comparable-store sales of 2.9% (guidance was 2.5%-3.0%) and earnings per share slightly above its previously announced guidance range of $0.98-$0.99, both generally in line with our 2.8% and $0.99 respective estimates.While we intend to adjust our 2017 forecast to re...
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