Fly News Breaks for February 11, 2020
Feb 11, 2020 | 13:59 EDT
Wells Fargo analyst Edward Kelly said US Foods' results had "some minor blemishes," like peers, but he thinks the fourth quarter report was "encouraging" overall and the post-earnings pullback seems unwarranted to him. Case growth was a touch light in the quarter, but this was an industry issue related to the calendar and case-level profit "was nothing short of stellar," Kelly tells investors. Guidance for the core business in 2020 was "solid and very much in line with expectations," added the analyst, who would buy amid the weakness and keeps an Overweight rating and $54 price target n US Foods shares.
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