Barclays Maintains an 'Equalweight' on Sysco (SYY); Industry Is Stagnant and Highly Competitive
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Price: $84.10 +1.25%
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Sysco (NYSE: SYY) price target of $30.00.
Barclays analyst says, "SYY's external environment is tough right now, with stagnant industry revenue growth and tough competition preventing the company from passing along all of 4Q's unusually high inflation of 5.9%, the highest inflation in over two years. We are focused, however, on the business transformation project, which we view as long overdue and absolutely essential to a mature SYY's growth prospects; it is now behind schedule. Given its importance, we don't see any reason to look at EPS excluding project costs, though management provided those figures on its 4Q earnings call."
"We are introducing 1Q12 EPS of $0.50, lowering our FY12 EPS to $2.00 from $2.05, and introducing FY13 EPS of $2.13."
For more ratings news on Sysco click here and for the rating history of Sysco click here.
Shares of Sysco closed at $28.11 yesterday.
Barclays analyst says, "SYY's external environment is tough right now, with stagnant industry revenue growth and tough competition preventing the company from passing along all of 4Q's unusually high inflation of 5.9%, the highest inflation in over two years. We are focused, however, on the business transformation project, which we view as long overdue and absolutely essential to a mature SYY's growth prospects; it is now behind schedule. Given its importance, we don't see any reason to look at EPS excluding project costs, though management provided those figures on its 4Q earnings call."
"We are introducing 1Q12 EPS of $0.50, lowering our FY12 EPS to $2.00 from $2.05, and introducing FY13 EPS of $2.13."
For more ratings news on Sysco click here and for the rating history of Sysco click here.
Shares of Sysco closed at $28.11 yesterday.
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