Davenport downgrades Performance Food Group (PFGC) to Neutral

March 12, 2008 12:11 PM EDT
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Price: $47.11 +0.04%

Rating Summary:
    16 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
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Davenport downgrades Performance Food Group Co. (Nasdaq: PFGC) from Strong Buy to Neutral, after no superior bid was announced.

On January 18th, Performance Food signed a definitive merger agreement to be acquired by an affiliate of The Blackstone Group (NYSE: BX) and Wellspring Capital Management in a transaction valued at approximately $1.3 billion or $34.50 per share.

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