TipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Alphabet & Intuitive Surgical
). The company is a premier distributor of food to high-end restaurants and other expensive establishments.
Saleh sees several upsides to share growth thanks to its "compelling business model as a niche foodservice distributor, more upscale and differentiated customer base, and unfolding sales recovery in key markets." The analyst is upbeat about the reopening of markets in key regions and gradual recovery in serviceable areas like hospitality. These upsides are expected to drive sales this year. Saleh said that these upsides, combined with CHEF's long-term opportunity to enhance market share, underpin his bullish stance on the company.
The analyst gave a "Top Pick" designation to CHEF stock, with a buy rating and $48 price target. "While the capital structure has changed and the technical overhang from the recent convertible issuance seems to remain, we view shares as simply too cheap given fundamentals," said Saleh. The analyst has delivered profitable ratings 61% of the time, and each of his ratings has generated returns of 10.9% on average.
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