Performance Food Group price target raised to $105 from $100 at BMO Capital

BMO Capital raised the firm’s price target on Performance Food Group (PFGC) to $105 from $100 and keeps an Outperform rating on the shares. The stock fell modestly possibly due to a headline EPS miss despite encouraging new account growth with key independent customers, which along with consistent growth in sales headcount, sets the stage for a strong second half of the year, the analyst tells investors in a research note. BMO adds that it sees solid organic growth in food service with M&A contributions in-line, also noting that it expects a bullish new 3-year outlook in May.