U.S. food retailer Whole Foods Market (NASDAQ:WFM) previously saw its stock price soaring all the way, but the WFM stock price declined in Thursday’s trading, because Goldman Sachs kicked the WFM stock off its list of recommended buying stocks.
The Whole Foods Market stock price has gained 33% since Goldman Sachs had recommended investors to buy the shares, while the same period S&P 500 index rose just 4%. The WFM stock price decreased 3.48%, to close at $82.61 per share.
Analysts with Goldman Sachs said in a report that they believed the Whole Foods Market stock is not a cyclical winner fundamentally and the market has recognized the prospects of the stock, so they recommend a waiting for some callback to obtain a constructive return again
Goldman Sachs also announced to raise the Whole Foods Market stock price target from $85 to $88 per share and give a neutral rating on the Whole Foods Market stock.
WFM stock price