Thursday, May 10, 2007

Quick note on WFMI

Note that HSBC is out with a downgrade on Whole Foods (NASDAQ:WFMI) taking their rating to Underweight from Neutral. HSBC says the natural and organic grocer's gross margin trends and costs in newer stores are a concern. Tgt goes to $36 from $52.

Notablecalls: Didn't think it would happen but here it is. WFMI looks to be heading towards the $40 levels and that's where I expect it to bounce.

1 comment:

Greg Feirman said...

I expected Whole Foods to find support at $40 as well. I bought some May07 $40 calls last Friday. Didn't work out too well!!!!