Piper Sandler analyst Brian Mullan assumed coverage of Sysco with a Neutral rating and $73 price target. Piper is “a bit concerned about the outlook for Restaurant industry traffic over the next ~six to nine months,” and is taking a bit of a guarded view on the outlook for Food Distributor industry case growth over that time frame. The firm noted that among its Neutral rated names, it prefers US Foods (USFD) over Sysco at this time.
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