Whole Foods Market "neutral weight," estimates reduced

09/01/05 - Prudential Financial

NEW YORK, September 1 (newratings.com) - Analyst Robert T Campagnino of Prudential Financial maintains his "neutral weight" rating on Whole Foods Market (WFMI), while reducing his estimates for the company. The target price is set to $112.

In a research note published this morning, the analyst mentions that the company indicated that Hurricane Katrina is likely to have a $5-$6 million adverse impact on its Q4 revenues. Whole Foods Market also said that it would book one-time charges in Q4 for uninsured losses associated with Hurricane Katrina. The EPS estimate for FY05 has been reduced from $2.47 to $2.46.