Chefs’ Warehouse price target raised to $58 from $50 at BTIG

BTIG raised the firm’s price target on Chefs’ Warehouse (CHEF) to $58 from $50 and keeps a Buy rating on the shares. The firm believes restaurant operators will deliver a “fairly upbeat tone” at next week’s ICR conference in Orlando as recent data indicates sales trends strengthened into year-end, despite the noise from the Thanksgiving shift and tough comparisons, the analyst tells investors in a research note. BTIG adds that the sector may see several pre-announcements, with Shake Shack (SHAK) and Chefs’ Warehouse potentially topping expectations