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Fly News Breaks for August 17, 2015
SYY
Aug 17, 2015 | 08:03 EDT
Jefferies analyst Mark Wiltamuth raised his price target for Sysco to $45 after Trian announced a 7% activist position in the company. The arrival of an activist may drive Sysco towards faster action, Wiltamuth tells investors in a research note. However, given the company's "sluggish earnings trends and a tepid foodservice backdrop," the analyst keeps a Hold rating on the name.
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