Cantor Fitzgerald Starts Sysco (SYY) at Hold; At Significant Inflection Point in Relation to Business Process Transformation Initiative

Cantor Fitzgerald initiates coverage on Sysco (NYSE: SYY) with a Hold. PT $29.00.

Cantor analyst said, "Although operating expenses could continue to get pushed out further, spending for the multi-year project is expected to increase materially in FY:12 (ending July), which is likely to pressure earnings. SYY continues to execute strongly. However, the combination of a relatively weak near-term outlook for restaurant spending and the ERP headwind/uncertainty leave us on the sidelines at this time. We do not expect overall expense comparisons to begin to improve until FY:14."

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 $28.90 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat
• Diana Shipping drops bid for Genco after price demands spike to $36.91