Analysts Offer Insights on Services Companies: Performance Food Group (NYSE: PFGC), 21st Century Fox (NASDAQ: FOXA) and Booking Holdings Inc (NASDAQ: BKNG)


Companies in the Services sector have received a lot of coverage today as analysts weigh in on Performance Food Group (NYSE: PFGC), 21st Century Fox (NASDAQ: FOXA) and Booking Holdings Inc (NASDAQ: BKNG).

Performance Food Group (NYSE: PFGC)

Pivotal Research analyst Ajay Jain maintained a Hold rating on Performance Food Group (NYSE: PFGC) today and set a price target of $31. The company’s shares closed yesterday at $35.70, close to its 52-week high of $36.20.

Jain wrote:

“We still view PFGC as having some of the strongest fundamentals relative to the industry, but we are hard pressed to find any rationale for the +10% move in the stock on these results. There is no change in our $31 price target.”

According to TipRanks.com, Jain is a 2-star analyst with an average return of 1.5% and a 47.2% success rate. Jain covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, US Food Holdings Corp, and United Natural Foods.

Performance Food Group has an analyst consensus of Moderate Buy, with a price target consensus of $33.50.

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21st Century Fox (NASDAQ: FOXA)

In a report released today, Brian Wieser from Pivotal Research maintained a Hold rating on 21st Century Fox (NASDAQ: FOXA), with a price target of $35. The company’s shares closed yesterday at $37.70, close to its 52-week high of $39.35.

Wieser noted:

“We continue to rate Fox Hold. Across all of 21 st Century Fox, company-wide revenues were down -2%, which was close to our forecast. Cable Network revenue was up significantly (+10%), Filmed Entertainment was roughly flat (-1%) and Television was down significantly (-32%). Adjusted OIBDA margins were similar year over year at around 26% with Cable Network margins up significantly – and accounting for 89% of the company’s total – with other segments down significantly. Adjusted EPS came in at $0.49, slightly below our expectations.”

According to TipRanks.com, Wieser is a 5-star analyst with an average return of 11.5% and a 74.5% success rate. Wieser covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Nielsen Holdings, and Discovery Comms.

21st Century Fox has an analyst consensus of Moderate Buy, with a price target consensus of $40.25.

Booking Holdings Inc (NASDAQ: BKNG)

In a report released today, Jed Kelly from Oppenheimer maintained a Buy rating on Booking Holdings Inc (NASDAQ: BKNG), with a price target of $2500. The company’s shares closed yesterday at $2183.59, close to its 52-week high of $2228.99.

Kelly commented:

“We maintain our $2,500 PT after higher advertising ROIs generated a solid 1Q EPS beat and 2Q guide, but are driving increasing room-night deceleration (high-end 2Q night guide, 5% below Opco/Street), that we see as somewhat transitory and under-appreciating BKNG’s ability to drive long-term accommodation share gains and high-teens FCF growth. Key debate will be: are factors other than 1) a shift in performance marketing bidding; and 2) law of large numbers, causing room-nights to decelerate? However, we see strong FCF generation (+64% y/y in 1Q), significant buyback capacity, and further penetration of other travel verticals such as attractions and single-owner inventory, limiting downside. Maintain Outperform.”

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 6.8% and a 56.4% success rate. Kelly covers the Services sector, focusing on stocks such as TripAdvisor Inc, Ctripcom, and Expedia.

Currently, the analyst consensus on Booking Holdings Inc is Strong Buy and the average price target is $2326.68, representing a 6.6% upside.

In a report issued on April 27, Piper Jaffray also maintained a Buy rating on the stock with a $2300 price target.

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