UPDATE: Tigress Financial Partners Initiates Coverage On United Natural Foods, Inc.

Tigress Financial Partners initiated a Buy rating on United Natural Foods, Inc. (NASDAQ: UNFI) in a report on Thursday.

Analyst Philip Van Deusen suggested an ongoing and accelerating demand for organic products.

Van Deusen noted that "UNFI is benefiting from growth in the organic food industry and is directly linked to Whole Foods Market, Inc. expansion as it serves as their primary distributor."

The analyst also indicated the potential for United Natural Foods to become an acquisition candidate.

The report noted how United Natural Foods both benefits but is rather dependent on Whole Foods Market, with it representing 36 percent of UNFI’s revenue. "UNFI has been the primary distributor to WFM for more than 15 years. Their contract was recently amended to extend the term of the agreement to September 2020."

United Natural Foods, Inc. recently traded at $60.98, up 1.2 percent.