Performance Food Group price target raised to $96 from $93 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Performance Food Group (PFGC) to $96 from $93 and keeps an Equal Weight rating on the shares. With industry demand improved, the firm sees a likely better quarter for restaurants and food distributors than Q1, the analyst tells investors in a research note. Ongoing policy noise remains a risk but middle/upper income customer cohorts remain solid, and costs are mostly benign, the firm argues.