Performance Food Group price target raised to $80 from $72 at CL King

CL King analyst Andrew Wolf raised the firm’s price target on Performance Food Group to $80 from $72 and keeps a Buy rating on the shares. Performance Food Group Company’s stock price outperformance during the last seven years relative to its peer group and the S&P 500 has been strategically driven by its sales-focused culture, which has led to industry-leading market share gains, the analyst tells investors in a research note. The firm expect that Performance Food’s average “street” sales force growth will normalize to 7% in FY24 and 6.5% in FY25, while sales force productivity will improve steadily.