Morgan Stanley Lifts Performance Food Group Company (PFGC) Stock Target to $93

Morgan Stanley has raised its price target for Performance Food Group Company (NYSE:PFGC) to $93, up from $92, while maintaining an Equalweight rating, following the company’s Investor Day webcast.

Despite a recent third-quarter earnings miss, reporting adjusted EPS of $0.79 versus the expected $0.89 and revenue of $15.31 billion, just below forecasts, PFGC reaffirmed its fiscal 2025 outlook, projecting net sales between $63 billion and $63.5 billion and Adjusted EBITDA of $1.725 billion to $1.75 billion. The company also outlined ambitious growth, targeting annual sales of $73 billion to $75 billion by fiscal 2028, alongside a new $500 million share repurchase program replacing the prior $300 million authorization.

Aerial view of a large warehouse loaded with pallets and crates of food products.

Analysts highlighted Performance Food Group Company (NYSE:PFGC)’s decade-long consistency in strategy, its focus on operational efficiencies, and a shift toward higher-margin products and customers. While organic expansion remains measured, the company sees opportunities for growth through M&A, especially in underpenetrated markets.

Citi analysts reaffirmed a Buy rating with a $121 price target, citing margin improvements and ongoing mix shifts. These developments underscore Performance Food Group Company (NYSE:PFGC)’s strong market positioning and strategic focus amid a resilient macroeconomic environment.

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