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Whole Foods (WFM) Stock Higher, Macquarie Upgrades Rating

NEW YORK (TheStreet) -- Shares of Whole Foods Market (WFM) are up by 2.08% to $34.42 in mid-morning trading on Monday, as the company's stock rating was upgraded to "outperform" from "neutral" at Macquarie earlier today.

The firm raised its price target on the stock to $38 from $28.

The Austin-based supermarket chain should see positive results over the next year as a result of same-store sales improvement and effective management commentary around the company's new stores called "365 by Whole Foods," according to the analyst note.

"Whole Foods remains a best-in-class operator with an iconic brand and a management team that has proven...