US Foods price target raised to $62 from $52 at BTIG

BTIG analyst Peter Saleh raised the firm’s price target on US Foods to $62 from $52 and keeps a Buy rating on the shares. Following several years of disruption, the company is “playing offense”, with renewed flexibility to achieve their long-term financial targets and allow meaningful capital returns to shareholders, the analyst tells investors in a research note. BTIG is forecasting mid-single-digit volume growth, substantial indirect expense cuts, and reduced leverage as a recipe to drive consistent EBITDA growth and capital returns.