Hapoalim Securities Initiates Coverage on Sysco (SYY) with a Market Perform
More News related to SYY
- Sysco Names James D. Hope Executive Vice President, Business Transformation
- Sysco Corp. (SYY) Names Twila Day to SVP and CIO
- Sysco Names Twila M. Day Senior Vice President and Chief Information Officer
- Sysco (SYY) Declares Increased Dividend to $0.25; 3.6% Yield
- Sysco Increases Quarterly Dividend Payment
More News related to New Coverage
- Bank of Montreal (BMO) Declares $0.70 Quarterly Dividend; 5.5% Yield
- Hormel Foods (HRL) Increases Quarterly Dividend to $0.21; 2.1% Yield
- AAON (AAON) Declares $0.18 Semi-Annual Dividend; 1.8% Yield
- Meta Financial Group (CASH) Declares $0.13 Quarterly Dividend; 2.4% Yield
- MainSource Financial (MSFG) Declares $0.01 Quarterly Dividend; 0.7% Yield
Hapoalim Securities initiates coverage on Sysco (NYSE: SYY) with a Market Perform. Price target $25
Hapoalim analyst says, "While the sales environment in FY09 was undoubtedly the most challenging in SYY's operating history, we do not expect the outlook to improve materially over the foreseeable future. In the context of an unfavorable macro backdrop for foodservice spending in general, we feel that SYY's most profitable customers (full service independent operators) are increasingly vulnerable. Although we don't underestimate management's ability to control expenses, as consumers continue to search for better price/value alternatives (both within food retail and at restaurants) our expectation is that SYY's sales and earnings outlook will remain somewhat pressured in FY10."
To see more analyst ratings on SYY Click Here.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice industry in the United States.
Related Categories
New CoverageStocks Mentioned
+0.00Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
