Performance Food Group price target raised to $95 from $90 at Guggenheim

Guggenheim raised the firm’s price target on Performance Food Group (PFGC) to $95 from $90 and keeps a Buy rating on the shares. Though Q1 EBITDA and Q2 guidance fell modestly short of the firm’s expectations, constructive commentary around recent independent case growth momentum, as well as election outcome “animal spirits”, enabled the shares to rally, the analyst noted. The firm sees “a clear path to $2.3 billion of EBITDA by 2028,” calling that the “likely target presented at next May’s Investor Day,” the analyst added.