Art Hogan, director of global equity product at Jefferies shared his best play of the week.
“We’ve decided to take WholeFoods to a “buy” from a “hold” [rating,]” Hogan told CNBC. “WholeFoods has done a great job at cutting their cost but picking up traffic.”
Hogan said the supermarket chain is likely to see earnings growth of 16 to 20 percent year over year.
“And it’s a company that’s overly loved, so I’m looking at WholeFoods as a play into a pickup into the American consumer,” he said.
Scorecard—What He Said:
- Hogan's Previous Appearance on CNBC (Oct. 8, 2010)
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CNBC Data Pages:
WholeFoods Competes With:
No immediate information was available for Hogan or his firm.