Barclays Maintains Overweight Rating for Performance Food Group: Here's What You Need To Know

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Barclays has decided to maintain its Overweight rating of Performance Food Group PFGC and raise its price target from $58.00 to $62.00.

Shares of Performance Food Group are trading down 0.9% over the last 24 hours, at $51.99 per share.

A move to $62.00 would account for a 19.25% increase from the current share price.

About Performance Food Group

Performance Food Group is the third-largest U.S. food-service distributor, with 9% market share and a heavy presence along the Eastern seaboard, the Southeast, and the Midwest. PFG's food-service business (expected to be 51% of fiscal 2022 sales) has its largest exposure to national and regional restaurant chains (50% of segment revenue), followed by independent restaurants (36%) and other channels (15%) such as healthcare facilities, hotels, and schools. The firm's Vistar business (49% of sales) is a national distributor of candy, snacks, and beverages to convenience stores, vending and office coffee service distributors, theaters, sporting arenas, and correctional facilities.

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Posted In: Analyst RatingsBZI-AAR-UPDATE
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