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SYY

Sysco

$64.52

-6.72 (-9.43%)

06:32
11/06/18
11/06
06:32
11/06/18
06:32

Sysco price target lowered to $75 from $80 at Loop Capital

Loop Capital analyst Andrew Wolf lowered his price target on Sysco to $75 after is Q1 results, saying the miss in its revenue and earnings came from the "increasing cost pressures at US Foodservice operations as well as a lack of product-cost inflation". The analyst also lowers his FY19 and FY20 EPS view by 15c to $3.40 and $3.75 respectively but kept his Buy rating, noting that the company's volumes were still solid and that his earnings projections still yield an annual average EPS growth of up to 12%. Wolf also states that the valuation on Sysco is "reasonable".

  • 13

    Nov

SYY Sysco
$64.52

-6.72 (-9.43%)

08/10/18
08/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Sell from Neutral at Goldman Sachs with analyst Toshiya Hari saying Intel's struggles with 10nm process technology makes the analyst incrementally more negative on the company's competitive positioning and margin outlook. 2. Booking Holdings (BKNG) downgraded to Neutral from Buy at Citi and UBS as well as Neutral from Overweight at JPMorgan. 3. Sysco (SYY) downgraded to Sell from Hold at Pivotal Research with analyst Ajay Jain saying he believes the move up in the stock over the past three months is inconsistent with growing industry headwinds as well as Sysco's company-specific issues. 4. Campbell Soup (CPB) downgraded to Underweight from Neutral at JPMorgan with analyst Ken Goldman saying he agrees with activist Third Point that Campbell's best option is to sell the company; however, he sees a sale as an unlikely outcome. 5. Redfin (RDFN) downgraded to Neutral from Buy at DA Davidson with analyst Tom White citing its Q2 results and below-consensus Q3 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/18
LOOP
08/14/18
NO CHANGE
Target $80
LOOP
Buy
Sysco price target raised to $80 from $70 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on Systo $80 and kept his Buy rating after its Q4 results showed "solid momentum", adding that its growth target look "very achievable". The analyst cites a U.S. total case growth of 5.3% and also estimates the "real internal sales growth" at 3.9% - the best rate of growth in "nearly 8 years". Wolf believes that Sysco's momentum is sustainable in the intermediate term as the company offers "reliable defensive growth and increasing returns on capital", which is "rare" in the large-cap staples group.
08/14/18
BMOC
08/14/18
NO CHANGE
Target $81
BMOC
Outperform
Sysco price target raised to $81 from $74 at BMO Capital
BMO Capital analyst Kelly Bania raised her price target on Sysco to $81 and kept her Outperform rating after its better than expected Q4 earnings. The analyst says the results suggest that the "independent restaurant segment remain healthy" and the company's execution remains strong relative to peers, with rising freight and fuel costs being managed successfully. Bania adds that Sysco's international expansion remains in its "investment phase", anticipating the company to achieve its 3-year operating income growth target.
10/22/18
BUCK
10/22/18
INITIATION
Target $82
BUCK
Buy
Sysco initiated with a Buy at Buckingham
Buckingham initiated Sysco with a Buy and $82 price target.

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