Laughable.

Barrons is wrong mroe oftne that they are right.
They rec'd DSX at 15 last Sept and the shares fell to 9.
They recently rec'd LM at 92 and the shares fell to 83 just 3 weeks later.

Bottom line: Yes, WFMI will prob reach its sales goals, which are 60% above current levels.
The question is this: what is a fair pps?

I can name 50 companies that will grow 60% by 2010 (by their own projections)

I dont think that rec'ing a stock with a PEG of 1.68, slowdown in the economy, and increasing competition (sure, it may not drive current WFMI shoppers away, but what about the potential NEW shoppers? Bottom line is that WFMI made those sales goals w/o anticipation that WMT would go organic.

Its not a buy at current levels. Expect a small bounce, but there is certainly more downside in the short-term.

disclosure: I was a WFMI shareholder from jan 1999 till March 04. I shop at WFMI in St. Paul, MN 2x a month.

Im not a basher, but am evaluating the stock. Remember: great companies do not equal great stocks. Every stock has a fair valuation. Dont ever fall in love with any stock.