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Fly News Breaks for May 10, 2018
CHEF
May 10, 2018 | 08:16 EDT
BMO Capital analyst Kelly Bania raised her price target on Chefs' Warehouse to $29 after its in-line Q1 results. The analyst notes that the company's weather-related headwinds and a deeper than expected gross margin decline were offset by reduced expenses and the third consecutive quarter of progress on expense leverage. Bania keeps her Outperform rating on Chefs' Warehouse, adding that the progress being made on expense leverage could be a positive catalyst toward the company reaching its long-term EBITDA margin goal of 7%.
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