Performance Food Group (PFGC) Acquisition Should Lead to EPS Increases - Buckingham Research

Buckingham Research analyst Bob Summers reiterated a Buy rating and $58.00 price target on Performance Food Group (NYSE: PFGC) after management updated guidance for the Reinhart acquisition which closed on 12/30/19.

The analyst believes "the transaction is transformational in nature, will strengthen the market positioning of the fastest growing company within the attractive food service sector and drive improved overall scale. Sustained strong organic growth, synergy and efficiency opportunities in Eby-Brown and Reinhart combined with new business/contract opportunities stemming from acquired businesses create an upward bias to EBITDA and EPS, in our view, and we anticipate consistent positive revisions over the immediate future. Our upside/downside stock price scenarios are $71/$33".

For an analyst ratings summary and ratings history on Performance Food Group click here. For more ratings news on Performance Food Group click here.

Shares of Performance Food Group closed at $52.06 yesterday.

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