US Foods price target raised to $58 from $50 at BMO Capital

BMO Capital analyst Kelly Bania raised the firm’s price target on US Foods to $58 from $50 and keeps an Outperform rating on the shares. The company’s Q4 results were “strong”, demonstrating the robust growth in its core customer segments, the analyst tells investors in a research note. BMO adds that its 2024 EBITDA guidance midpoint exceeded prior $1.7B target, while the management pointed to raised high-single to low-double digit EBITDA growth algorithm on a go-forward basis ahead of June’s investor day.