Intel stock spikes after report of possible US government stake
Investing.com - Wells Fargo raised its price target on Performance Food Group (NYSE:PFGC) to $115.00 from $100.00 on Thursday, while maintaining an Overweight rating on the food distribution company. The stock, currently trading near its 52-week high of $103.50, has delivered an impressive 40.17% return over the past year.
The price target increase follows Performance Food Group’s strong fourth-quarter results, which exceeded earnings expectations according to Wells Fargo’s analysis.
Wells Fargo noted that Performance Food Group continues to gain market share and is executing effectively against its multi-year strategic plan.
The research firm acknowledged that the probability of a potential deal with US Foods (NYSE:USFD) has decreased following recent comments from Performance Food Group’s management during Thursday’s earnings call.
Performance Food Group’s board determined there was no basis to engage in information sharing with US Foods, citing concerns about the risk-reward profile of such a transaction.
In other recent news, Performance Food Group Co . (PFGC) reported impressive financial results for the fourth quarter of fiscal year 2025, surpassing analyst expectations. The company achieved an adjusted earnings per share (EPS) of $1.55, which exceeded the forecasted $1.45. Additionally, Performance Food Group’s revenue reached $16.9 billion, slightly above the anticipated $16.78 billion. These results highlight the company’s strong performance in the recent quarter.
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