Whole Foods Market (NASDAQ:WFM) — This operator of the largest chain of natural food supermarkets in the United States appears headed to new highs.
On Jan. 4, with the stock at $70, the Trade of the Day said, “Sales are expected to increase by 15% in 2012, and earnings are estimated to increase to $2.27 from $1.93 in 2011 and $1.43 in 2010.
“The adoption of a new price strategy, more lower-priced offerings, and the square-footage expansion should lead to better-than-average industry growth. Furthermore, a share repurchase and a dividend increase from the current 56 cents per share are expected.”
Since then, the 2012 earnings estimate has been increased to $2.32. And WFM was mentioned on CNBC yesterday as a rumored takeover candidate. No price was estimated.
Technically WFM has been in a powerful bull channel for over a year, but recently it broke above its bull channel and is under heavy accumulation.