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Fly News Breaks for September 26, 2016
SYY
Sep 26, 2016 | 07:17 EDT
After meeting with Sysco's management, Wells Fargo says the company "remains well-positioned for local customer growth, share gains, and improved profitability over the long-term." The firm blames the stock's recent retreat on "macro/yield factors, renewed deflation concerns and recent end market deceleration." However, it thinks the company is "well-equipped" to deal with deflation and it believes that independent restaurants' growth is outpacing that of chains. Wells thinks that Sysco's stock has reached an attractive entry point.
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