Citi Positive on Performance Food Group (PFGC), 'We don’t see today’s investor day materially shifting the narrative'

Citi analyst Karen Holthouse reiterated a Buy rating and $121.00 price target on Performance Food Group (NYSE: PFGC).

The analyst comments "We don’t see today’s investor day materially shifting the narrative on PFGC; however, we believe it was a compelling pitch for “PFGC ONE”: (1) PFGC makes the continuous investments (e.g. headcount) in its core foodservice business, but (2) it is also more channel agnostic within the broader food away from home category than peers, and (3) through internal capital allocation/M&A it will continuously nudge into/grow capabilities within new or faster growing parts of the food away from home complex. We think the F25-F28 plan met the investor mark and leaves room to absorb some bumps in the road without putting F28 EBITDA at risk (it also does not include significant M&A), and that valuation on these numbers remains compelling."

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 $86.15 yesterday.

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