Whole Foods Market's (WFMI) strategy of offering lower-priced items in the recession is paying off, at least according to Jeffries analyst Scott Mushkin, who upgraded the company to a buy rating from a hold rating Friday.

In his research note, Mushkin wrote the supermarket chain is accelerating its sales and cutting costs, according to The Associated Press.

Mushkin also raised his target price for Whole Foods's shares to $45 from $36, forecasting the share price could increase as much as 17% within the next year, the AP reported.

The stock advanced 3.3% to close at $38.30 per share Friday.


Increase your money and finance knowledge from home

Behavioral Finance

Why do investors make the decisions that they do?

View Course »

Portfolio Basics

What are stocks? Learn how to start investing.

View Course »

Add a Comment

*0 / 3000 Character Maximum

2 Comments

Filter by:
kv37

No, its because people can't handle shopping at walmart anymore.

October 16 2010 at 7:41 AM Report abuse rate up rate down Reply
1 reply to kv37's comment
micachen

competition. but WFMI is really cool.

October 16 2010 at 10:21 PM Report abuse rate up rate down Reply