Piper Sandler analyst Brian Mullan lowered the firm’s price target on Performance Food Group (PFGC) to $111 from $116 and keeps an Overweight rating on the shares. The firm thinks the restaurant group has pulled back of late predominantly as a function of fears over the underlying demand trends across the Restaurant industry, which is the Food Distribution industry’s biggest customer type.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFGC:
- Performance Food Group Ends Talks with US Foods
- Midday Fly By: Novo Alzheimer’s trial misses goal, Green Dot to be acquired
- Video: Biogen up after Novo weight-loss drug fails to slow Alzheimer’s progress
- Morning Movers: Novo Nordisk sinks after Alzheimer’s disease study results
- US Foods board approves $1B share repurchase authorization