JPMorgan has upgraded Whole Foods Markets from underweight to neutral.
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The investment firm cited market expectations for earnings per share and the anticipated expansion of Whole Foods into the traditional food retail market. However, JPMorgan warned that the ethical food retailer was still having difficulty with its rate of new store openings.
Whole Foods shares fell slightly on Friday (11 August) from a high of US$48.18 to close at $47.37.
