US Foods Gets Price Target Bumps By Analysts After Upbeat Q1 Results

US Foods Holding Corp USFD reported better-than-expected results for its first quarter.

US Foods reported first-quarter FY23 sales growth of 9.5% year-on-year to $8.54 billion, beating the consensus of $8.49 billion. Adjusted EPS was $0.50, beating the $0.42 estimate.

US Foods sees FY23 adjusted EPS to $2.45 - $2.65 versus an estimate of $2.56.

US Foods shares rose 5% to close at $39.62 on Thursday and added 0.4% in after-hours trading.

These analysts made changes to their price targets on US Foods following earnings announcement.

• Credit Suisse raised the price target on US Foods from $47 to $51. Credit Suisse analyst Lauren Silberman maintained an Outperform rating.
• Guggenheim increased the price target on US Foods from $45 to $50. Guggenheim analyst John Heinbockel maintained a Buy rating
• Wells Fargo boosted price target on US Foods from $49 to $50. Wells Fargo analyst Edward Kelly maintained an Overweight rating on the stock.

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