Performance Food Group, the Consumer Defensive sector company, was revisited by a Wall Street analyst yesterday. Analyst Brian Mullan from Piper Sandler upgraded the rating on the stock to a Buy and gave it a $114.00 price target.
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Brian Mullan has given his Buy rating due to a combination of factors including the attractive risk-reward profile of Performance Food Group (PFGC). The company has laid out a clear long-term strategy and financial targets during its May 2025 Investor Day, projecting an adjusted EBITDA growth CAGR of approximately 9.0% to 12.0% from FY2026e through FY2028e. This ambitious growth plan is seen as a continuation of PFGC’s recent successful performance, where it has consistently met its targets despite challenging industry conditions.
Additionally, Mullan notes that there is potential for further upside beyond the set price target of $114, particularly if certain scenarios involving USFD materialize. PFGC’s track record as a successful acquirer also supports the Buy rating, as the company is expected to continue seeking value creation opportunities while executing its core business strategies. These factors collectively contribute to the positive outlook for PFGC’s stock.
According to TipRanks, Mullan is a 5-star analyst with an average return of 12.4% and a 62.89% success rate. Mullan covers the Consumer Cyclical sector, focusing on stocks such as Chipotle, Starbucks, and The ONE Group Hospitality.
In another report released on August 25, Guggenheim also maintained a Buy rating on the stock with a $115.00 price target.