Sysco price target lowered to $82 from $87 at Wells Fargo

Wells Fargo analyst Edward Kelly lowered the firm’s price target on Sysco (SYY) to $82 from $87 and keeps an Overweight rating on the shares. The firm says Sysco’s Q1 update disappointed, as the company continues to struggle against a weak industry backdrop. Wells endorses a better second half of the year on normalizing demand and self-help, but risk to guidance inches higher.