The Chefs' Warehouse (CHEF) PT, Estimates Lowered at BMO Capital

BMO Capital analyst Kelly Bania lowered estimates and her price target on The Chefs' Warehouse, Inc (NASDAQ: CHEF) to $17.00 (from $20.00) following weak Q3 results and guidance. The Market Perform rating was maintained.

The firm lowers 2015E EPS to $0.70 (down from $0.80), reflecting 8% sales growth (down from 11% prior) on slightly stronger organic growth of 7.5% (inflation 3%/volume 4.5%) but lower acquisition-based growth of +0.5% (down from 5%).

Notably, the firm said there are signs inflation is starting to subside.

For an analyst ratings summary and ratings history on The Chefs' Warehouse, Inc click here. For more ratings news on The Chefs' Warehouse, Inc click here.

Shares of The Chefs' Warehouse are down 7.9% intra-day to $15.49.

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