Benchmark analyst Todd Brooks raised the firm’s price target on Chefs’ Warehouse to $51 from $49 and keeps a Buy rating on the shares. On November 1, Chefs’ Warehouse announced the purchase of Chef Middle East and "once again" raised its guidance for FY23, noted Brooks, who has revised his own FY23 adjusted EBITDA estimate to $182M. Further into a post-pandemic normalization in business trends, the company is "proving to be both a taker of market share and an industry consolidator," Brooks tells investors.
Published first on TheFly
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