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Fly News Breaks for February 5, 2019
SYY
Feb 5, 2019 | 06:20 EDT
Loop Capital analyst Andrew Wolf kept his Buy rating and $75 price target on Sysco after its Q2 results, saying that while the company's earnings beat was due in part to a lower tax rate, its operating income also rose with reduced drag from freight cost inflation and higher brand penetration. The analyst expects the company's better than expected operating leverage and reduce costs to continue to contribute to its bottom line, forecasting Sysco earnings to accelerate further.
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