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Fly News Breaks for November 2, 2018
CHEF
Nov 2, 2018 | 07:02 EDT
Loop Capital analyst Andrew Wolf kept his Buy rating and $39 price on Chef's Warehouse after its Q3 results. The analyst notes that the earnings came in 1c light of his forecast and sales growth slowed because of the the wet summer weather in the core Northeastern markets. Wolf still believes however that "the company is in the earlier stage of an accelerated profit growth period driven by strong volume gains and profit margin expansion", leveraging its distribution infrastructure in high-end specialty and protein foodservice merchandising.
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