Chefs’ Warehouse price target raised to $73 from $60 at BMO Capital

BMO Capital analyst Kelly Bania raised the firm’s price target on Chefs’ Warehouse (CHEF) to $73 from $60 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company had a strong finish to 2024 despite a short holiday and weather impacts across the industry, along with a faster-than-planned return to its 2.5- to 3.0- leverage target, which has helped Chefs’ Warehouse re-gain some of its prior valuation levels, the analyst tells investors in a research note. BMO adds however that it continues to see further upside in the stock as Chefs’ Warehouse targets 10% EBITDA in coming year.