Performance Food Group price target raised to $116 from $114 at Piper Sandler

Piper Sandler raised the firm’s price target on Performance Food Group (PFGC) to $116 from $114 and keeps an Overweight rating on the shares following quarterly results. Overall, it was a very solid quarter for Performance Food Group on multiple fronts, with the Foodservice segment exhibiting continued and frankly quite impressive momentum with organic independent case growth, and with good news in the Convenience segment which will be onboarding two sizable new customers throughout this Fiscal Year, the firm says.