BMO Capital raised the firm’s price target on Sysco to $90 from $85 and keeps an Outperform rating on the shares. The company reported “solid” Q2 results, with acceleration in local case growth coming earlier-than-expected and adding to momentum ahead of the expected benefits from Sysco’s “significant” sales force headcount investment,the analyst tells investors in a research note. The food service group should be more resilient from a case volume growth perspective under a variety of economic scenarios, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SYY:
- Sysco (NYSE:SYY) Soars on Q2 Performance
- Sysco Reports Second Quarter EPS Growth, Driven By Increasing Volumes and Positive Operating Leverage
- Sysco sees 2024 adjusted EPS $4.20-$4.40, consensus $4.32
- Sysco expects to return $2.25B back to shareholders in 2024
- Sysco reports Q2 adjusted EPS 89c, consensus 87c
