Performance Food Group price target raised to $76 from $72 at UBS

UBS analyst Mark Carden raised the firm’s price target on Performance Food Group to $76 from $72 and keeps a Buy rating on the shares after its Q2 earnings beat. The company’s foodservice sales improvement skewed toward more profitable independents, with Performance Food Group experiencing more rapid growth in new accounts relative to cases, the analyst tells investors in a research note. The firm adds that Performance Food Group’s investments in its sales force and its focus on its top line position it for incremental market share growth in most economic backdrops.