Whole Foods Market's (NASDAQ:WFMI) Managers Say Consumers Spending More

After getting answers from a survey sent to managers of Whole Foods Market (NASDAQ:WFMI), Jefferies said 82 percent of those responding indicated consumers were increasing spending, with 18 percent saying spending by consumers was much better.

While Jefferies raised their revenue estimates on Whole Foods slightly, the moved their price target up in a big way, as they don't believe traffic to the stores will slow down through 2011.

Jefferies maintains a "Buy" rating on Whole Foods Market, which closed Thursday at $52.31, surging $2.30, or 4.60 percent. Jefferies raised their price target on them from $47 to $60.