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US Foods Analysts Increase Their Forecasts After Q3 Results

Published 10/11/2023, 18:34
Updated 10/11/2023, 19:40
© Reuters.  US Foods Analysts Increase Their Forecasts After Q3 Results
USFD
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Benzinga - by Lisa Levin, Benzinga Editor.

US Foods Holding Corp (NYSE: USFD) reported an increase in sales for its third quarter on Thursday.

US Foods reported third-quarter FY23 sales growth of 2.1% year-on-year to $9.106 billion, marginally missing the analyst consensus estimate of $9.107 billion. Adjusted EPS was $0.70, beating the $0.69 estimate.

US Foods raised FY23 adjusted EPS outlook to $2.60 - $2.70 from $2.55 - $2.65 versus an estimate of $2.62. The company raised adjusted EBITDA guidance to $1.54 billion - $1.56 billion (previously $1.51 billion - $1.54 billion).

US Foods shares gained 3% to trade at $42.53 on Friday.

These analysts made changes to their price targets on US Foods following earnings announcement.

  • Morgan Stanley increased the price target on US Foods from $54 to $56. Morgan Stanley analyst John Glass maintained an Overweight rating.
  • Truist Securities raised the price target on US Foods from $50 to $52. Truist Securities analyst Jake Bartlett maintained a Buy rating.

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Latest Ratings for USFD

DateFirmActionFromTo
Mar 2022CL KingInitiates Coverage OnBuy
Feb 2022Credit SuisseMaintainsOutperform
Feb 2022Truist SecuritiesInitiates Coverage OnBuy
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View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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