Jefferies analyst Alexander Slagle maintained a Buy rating on Performance Food Group (PFGC – Research Report) yesterday and set a price target of $108.00.
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Alexander Slagle’s rating is based on Performance Food Group’s strong financial performance and growth prospects. The company reported impressive sales and EBITDA figures for the second quarter, exceeding market expectations due to robust organic growth and significant contributions from recent acquisitions like Cheney. Although there was a slight dip in EPS due to higher interest expenses and depreciation from acquisitions, Slagle views this as a buying opportunity.
Furthermore, the company raised its guidance for fiscal 2025, indicating confidence in future sales and profitability, supported by market share gains and stabilization in the demand environment. The company’s strategic acquisitions and successful integration efforts are expected to drive further sales and EBITDA growth. Overall, Slagle sees multiple opportunities for the company to capitalize on its strengths and improve its financial standing, leading to a Buy rating with a price target of $108.
In another report released today, Truist Financial also maintained a Buy rating on the stock with a $104.00 price target.
PFGC’s price has also changed moderately for the past six months – from $63.510 to $88.220, which is a 38.91% increase.