08:05 AM EDT, 05/13/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target to $63 from $57, on an EV/EBITDA multiple of 11.4x against our 2024 EBITDA of $1,730M, in line with USFD's 5-year average forward EV/EBITDA of 11.4x. We lift our 2024 EPS to $3.17 from $3.15 and 2025's to $3.66 from $3.65. USFD posts Q1 adj-EPS of $0.54, in line with consensus. Revenue of $8,949M (+4.8% Y/Y) was $44M above consensus. Adj-EBITDA rose 5.6% Y/Y to $356M vs. $351M consensus, with margin widening 3 bps Y/Y to 4.0%. Total case volume rose 4.2% Y/Y, on case volume growth for independent restaurants (+4.6%), health care (+6.4%), and hospitality (+0.9%). Despite adverse weather and labor disruptions in January, USFD gained share with independent restaurants for a 12th consecutive quarter. USFD also completed its acquisition of IWC Foodservice for ~$220M, funded through OCF. In addition, USFD launched 26 new products through Spring Scoop and expects $75M in cost savings. Overall, while some macro concerns linger, we believe USFD remains well-positioned relative to its peers.