RBC Capital Starts Sysco (SYY) at Sector Perform

RBC Capital initiates coverage on Sysco (NYSE: SYY) with a Sector Perform rating and a price target of $47.00.

Analyst William Kirk commented, "We are initiating on Sysco with a Sector Perform rating and $47 price target. Despite a softening category and an unsustainable gross margin trajectory, Sysco trades at an all-time high and with the smallest post-recession gap to restaurant valuations. While we think the $500m three-year EBIT growth goal is achievable/raisable, we believe this is already factored into consensus numbers."

For an analyst ratings summary and ratings history on Sysco click here. For more ratings news on Sysco click here.

Shares of Sysco closed at $53.52 yesterday.

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