CHEF - Chefs' Warehouse called a compelling reopening play

Lake Street starts off coverage on Chefs' Warehouse (CHEF) with a Buy rating and price target of $38.Analyst Ben Klieve: "We see a compelling reopening play as consumers return to restaurants and chefs restock their kitchens with the high quality ingredients needed to re-earn the business of discerning diners. As more consumers get vaccinated and reduce their social distancing we anticipate increased demand for Chefs' Warehouse product from restaurants, hotels and caterers, resulting in material sequential improvement on the top and bottom lines."The firm recommends that investors build a position on CHEF and calls the ~10% decline from March highs an opportunity. See the Seeking Alpha Value Grades on CHEF.

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Chefs' Warehouse called a compelling reopening play