Performance Food Group initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Lauren Silberman initiated coverage of Performance Food Group with a Buy rating and $80 price target. The firm believes Performance offers a favorable risk/reward, supported by a double-digit 3-year annual EBITDA growth, a “relatively defensive” business model and attractive valuation. Performance Food is well positioned to continue to gain market share in a fragmented industry across a relatively diversified portfolio, the analyst tells investors in a research note.