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Fly News Breaks for September 12, 2019
USFD
Sep 12, 2019 | 07:26 EDT
Credit Suisse analyst Judah Frommer raised his price target for US Foods to $47 from $42 after the company announced its receipt of conditional approval from the FTC to close its July 2018 proposed acquisition of SGA Food Group for $1.8B. Closure of the deal represents removal of the key overhang on the stock and should precipitate a further narrowing of the valuation gap to public peers if operational execution persists, he contends. The analyst reiterates an Outperform rating on the shares.
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