UBS upgrades Whole Foods on signs of stability

Portland, Ore. UBS Investment Research upgraded shares of Whole Foods Market on Monday with profits growing for the organic and natural grocer.

UBS analyst Neil Currie upgraded shares to "neutral" from "sell," saying in a research note that Whole Foods looks "solid." However, he said he remains cautious on further improvements as the company will soon lap comparison to quarters hit hard by the recession.

Whole Foods reported last month that strong sales sent its first-quarter profit up nearly 79% and it raised its outlook for the year.