Jefferies Upgrades The Fresh Market (TFM) to Buy

Jefferies upgraded The Fresh Market (NASDAQ: TFM) from Hold to Buy with a price target of $29.00 (from $26.00), citing favorable risk/reward with new CEO and potential for change.

Analyst Mark Wiltamuth commented, "In our view, TFM shares have fallen to unsustainably low valuation levels. While recent results have been disappointing and the earnings outlook has been slashed, a new CEO brings hope for real change and at only 5.5x F2015 EV/EBITDA, risk/reward skews favorably. TFM has healthy free cash flow ($46M), no debt, industry-leading ROIC, 12% store growth and we see turnaround potential."

For an analyst ratings summary and ratings history on The Fresh Market click here. For more ratings news on The Fresh Market click here.

Shares of The Fresh Market closed at $23.19 yesterday.

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