In a report released yesterday, Alexander Slagle from Jefferies reiterated a Buy rating on The Chefs’ Warehouse (CHEF – Research Report), with a price target of $70.00.
Alexander Slagle has given his Buy rating due to a combination of factors that highlight The Chefs’ Warehouse’s strategic positioning and growth potential. The company recently hosted its first Investor Day, where management showcased its unique business model and strategic advantages, which are expected to help achieve its 2028 targets. Slagle noted the company’s ability to gain market share in a fragmented industry, emphasizing its industry-leading sales force and investments in capacity and technology, which are poised to drive growth.
Furthermore, The Chefs’ Warehouse is leveraging its investments across key growth markets, such as Florida, Texas, and the Pacific Northwest, to expand its reach and increase revenue. The company’s reaffirmation of its 2025 guidance and its target for adjusted EBITDA by 2028 provide confidence in its growth trajectory. Slagle believes that the company is at an inflection point, with potential for increased margins and significant EBITDA growth, making the risk/reward profile compelling and justifying the Buy rating with a price target of $70.
In another report released on March 11, BTIG also maintained a Buy rating on the stock with a $68.00 price target.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CHEF in relation to earlier this year.