Wells Fargo Lowers United Natural Foods Price Target to $35
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2025
0mins
Should l Buy UNFI?
Wells Fargo analyst Edward Kelly lowered the firm's price target on United Natural Foods to $35 from $37 and keeps an Equal Weight rating on the shares. The firm sees a mixed overall 2026 outlook for the group, but with opportunity. Wells is bullish broadlines/food service, notes fiscal/tariff trade is underway, and believes momentum is sustainable through the first half of EPS revisions. With that said, the firm sees a tougher food retail outlook; idiosyncratic drivers are key.
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Analyst Views on UNFI
Wall Street analysts forecast UNFI stock price to fall
8 Analyst Rating
1 Buy
7 Hold
0 Sell
Hold
Current: 45.930
Low
35.00
Averages
39.50
High
48.00
Current: 45.930
Low
35.00
Averages
39.50
High
48.00
About UNFI
United Natural Foods, Inc. is a distributor of grocery and non-food products and support service provider to retailers in the United States and Canada. It operates through three segments: Natural, Conventional and Retail. The natural segment reflects the wholesale distribution of natural, organic and specialty grocery and non-food products and services and includes the Company’s portfolio of natural owned brands and natural and organic snack food manufacturing business. The conventional segment reflects the wholesale distribution of conventional grocery and non-food products and services and includes the Company’s portfolio of conventional owned brands. Retail segment includes about 75 Cub Foods and Shoppers retail grocery stores. It offers approximately 230,000 products consisting of national, regional and private label brands grouped into various main product categories: grocery and general merchandise, perishables, frozen foods, wellness and personal care items and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Labor Market Data: Initial jobless claims rose by 5,000 to 210,000, in line with expectations, while continuing claims fell by 32,000 to a 1.75-year low of 1.819 million, indicating labor market strength that could influence Federal Reserve policy.
- International Economic Impact: The OECD raised its G-20 inflation forecast for 2026 to 4.0%, reflecting the potential global economic impact of the Iran war, with increasing market concerns about escalating tensions in the Middle East that could disrupt global supply chains.
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- Oil Price Surge Pressures Markets: Amid escalating uncertainty regarding Iran, WTI crude oil prices rose over 3%, contributing to a 0.64% drop in the S&P 500, a 0.16% decline in the Dow Jones, and a 1.05% fall in the Nasdaq 100, indicating market sensitivity to geopolitical risks.
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- OECD Raises Inflation Forecast: The OECD increased its G-20 inflation forecast for 2026 from 2.8% to 4.0%, reflecting the potential economic impact of the Iran conflict, which may heighten investor concerns about future economic growth.
- Chip Makers Under Pressure: A new compression technique proposed by Google researchers, which could reduce memory requirements for AI workloads, has led to declines of over 5% in several chip manufacturers' stocks, further exacerbating overall market weakness.
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- OECD Inflation Forecast Raised: The OECD increased its G-20 inflation forecast for 2026 from 2.8% to 4.0%, reflecting the potential economic impacts of the war in Iran, which may lead investors to reassess market risks.
- Escalating Tensions in the Middle East: Saudi Arabia's agreement to allow U.S. military access to King Fahd Air Base signals increased regional pressure on Iran, potentially leading to broader military conflict that could further disrupt global oil and gas supply chains.
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- Record High Stock Price: United Natural Foods (UNFI) shares reached a new high on Thursday, driven by turnaround progress, its relationship with Amazon, and achievable FY28 targets, leading Wells Fargo to upgrade its rating from Equal Weight to Overweight with a 40% price target increase.
- Healthy Living Trend: Analyst Edward Kelly highlighted UNFI's growth potential in the natural and organic sector, providing investors with a unique opportunity to capitalize on the healthy living trend, which is expected to attract more investor interest.
- AI Efficiency Gains: UNFI is poised to achieve significant efficiency gains through AI integration, particularly in its logistics-heavy operations with a large warehouse network and private fleet, where even small margin expansions can substantially boost EBITDA growth.
- Strong Market Performance: Compared to the same time last year, UNFI's stock has appreciated over 70%, outperforming the S&P 500 by 55 percentage points, demonstrating its competitive edge and investment appeal in the market.
See More
UNITED NATURAL FOODS STOCK RISES 4.8% FOLLOWING WELLS FARGO UPGRADE TO OVERWEIGHT FROM EQUAL WEIGHT
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Market Context: This rise follows a significant increase in Wells Fargo's stock, which has been attributed to concerns over weight management in the market.
See More
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- Spotify Performance Outlook: Daiwa rates Spotify Technology (SPOT) as Outperform with a $535 price target, based on expectations of steady revenue growth, indicating confidence in its future development.
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