JPMorgan analyst John Ivankoe lowered the firm’s price target on Sysco to $83 from $84 and keeps an Overweight rating on the shares. The analyst sees a better 2023 for the restaurant and food distribution space as "pricing catches up while costs ebb." The industry experienced "once-in-our career" wage and commodity inflation and is showing rapid disinflation both now and especially looking into the second half of 2023, the analyst tells investors in a research note.
Published first on TheFly
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