Deutsche Bank analyst Lauren Silberman raised the firm’s price target on Sysco to $90 from $85 and keeps a Buy rating on the shares. The company reported a solid fiscal Q2 print, with a modest earnings beat, improving case growth and reiteration of the fiscal 2024 guidance, the analyst tells investors in a research note. At current levels, the firm believes Sysco offers a favorable risk/reward.
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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
