Performance Food Group Company (PFGC) Is Attractive From A Valuation Perspective, Says Piper Sandler

Performance Food Group Company (NYSE:PFGC) is among the consumer defensive stocks to buy according to analysts. On December 12, Brian Mullan, an analyst at Piper Sandler, reduced the price target on Performance Food Group Company (NYSE:PFGC) to $111 from $116, while keeping an ‘Overweight’ rating. According to TheFly, the firm believes that the restaurant group has pulled back recently, mainly due to the “fears over the underlying demand trends across the Restaurant industry,” which is the largest client of the Food Distribution industry.

As a result, Piper Sandler notes that the company has become “particularly attractive from a valuation perspective” after a decline over the last few months. With confidence, the current price reflects “a great entry point” if the company is able to achieve its long-term targets, the firm notes. What’s even more interesting is that Piper Sandler calls Performance Food Group Company (NYSE:PFGC) a “top pick” within its food distribution market.

Earlier on December 5, Barclays analyst Jeff Bernstein maintained a ‘Buy’ rating on Performance Food Group Company (NYSE:PFGC), along with a price target of $120. This aligns with the overall market sentiment, as the company is a buy among almost all analysts covering the stock. With a median price target of $120, the stock has an upside potential of 28.82%.

Performance Food Group Company (NYSE:PFGC) is a Virginia-based company specializing in the marketing and distribution of food and food-related products. Incorporated in 1885, the company operates through three segments: Foodservice, Convenience, and Specialty.

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Disclosure: None.