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Fly News Breaks for October 15, 2019
Oct 15, 2019 | 13:19 EDT
Wells Fargo analyst Edward Kelly expects the "abrupt" departure of US Foods chief supply chain officer Tim Connolly to be an overhang on the shares. The news is a surprise, "to say the least," as Connolly was with the company for only six months, Kelly tells investors in a research note. After the speaking with US Foods, the analyst is "disappointed" by the lack of incremental color beyond the press release. However, Kelly does not believe Connolly was terminated for cause and adds that there were no known operational issues as of the time of his firm's conference on September 26. He has an Outperform rating on US Foods with a $54 price target.
News For USFD From the Last 2 Days
Nov 12, 2019 | 09:37 EST
West Coast Consumer Conference will be held in San Francisco on November 12-13.