M Partners Reiterates Hold, $48 PT on United Natural Foods Before FQ3 Results

M Partners remains rated Hold on United Natural Foods (NASDAQ: UNFI) with a price target of $48 heading into the company's quarterly results on June 5.

M Partners comments, "We are maintaining our Hold recommendation and $48 twelve month price target. Our valuation basis remains at 11.5x forward EBITDA. Our view is that near term upside is limited due to the share price appreciation that occurred between December and May that saw the stock price double on its way up to our price target.

UNFI closed at $50.15 on Friday.