Sysco Corp. (SYY): Raising PT to $56 - BMO

November 9, 2016 6:57 AM EST
Get Alerts SYY Hot Sheet
Price: $53.81 +0.35%

Rating Summary:
    5 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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BMO Capital analyst, Kelly Bania, reiterated her Market Perform rating on shares of Sysco (NYSE: SYY) following an exceptionally strong F1Q17, supported by an accelerating contribution from internal initiatives, solid contribution from independents/specialty business, and strong international performance.

The new target price of $56 (up from $52) reflects 20x FY2018E EPS and an 11-12x EV/EBITDA multiple. The Market Perform rating stayed the same due to valuation.

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 $54.19 yesterday.

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