Barclays Maintains an 'Equalweight' on Sysco (SYY); Volumes Remain Weak
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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, "The market's expectations going into 1Q12 were probably pretty low, as were ours, yet the real sales growth was still a disappointment to us. Case volume rose by only 1.0%, which we think is a slowdown from recent quarters, though the company's market share was probably up slightly. SYY believes that very negative consumer sentiment is weighing on foodservice spending, and high inflation may also be contributing to the cautious spending behavior. Unfortunately that means the company is dependent on a recovery in the economy, and the timing of that is impossible to predict."
"We are maintaining our 2Q12 EPS of $0.45, but lowering our FY12 EPS to $1.94
from $2.00 and reducing our FY13 EPS to $2.10 from $2.13."
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 $27.88 yesterday.
Barclays analyst says, "The market's expectations going into 1Q12 were probably pretty low, as were ours, yet the real sales growth was still a disappointment to us. Case volume rose by only 1.0%, which we think is a slowdown from recent quarters, though the company's market share was probably up slightly. SYY believes that very negative consumer sentiment is weighing on foodservice spending, and high inflation may also be contributing to the cautious spending behavior. Unfortunately that means the company is dependent on a recovery in the economy, and the timing of that is impossible to predict."
"We are maintaining our 2Q12 EPS of $0.45, but lowering our FY12 EPS to $1.94
from $2.00 and reducing our FY13 EPS to $2.10 from $2.13."
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 $27.88 yesterday.
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