Sysco price target raised to $91 from $87 at Truist

Truist analyst Jake Bartlett raised the firm’s price target on Sysco to $91 from $87 and keeps a Buy rating on the shares. The analyst cites the company’s Q2 earnings beat while noting that re-accelerating independent case growth is encouraging, driven by both sales initiatives and industry tailwinds. The firm also remains confident in continued FY24 margin expansion, given pricing discipline, improved employee retention and productivity, and modest product cost inflation, Truist tells investors in a research note.