Pivotal Research analyst Ajay Jain reiterated a Sell rating on Sysco Corp (SYY) today and set a price target of $58. The company’s shares closed last Monday at $72.19.
Jain observed:
“We reiterate our SELL. Sysco now faces a highly pressured sales outlook across all of its operating segments.”
According to TipRanks.com, Jain is a 5-star analyst with an average return of 14.4% and a 60.2% success rate. Jain covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, US Food Holdings Corp, and United Natural Foods.
Sysco Corp has an analyst consensus of Hold, with a price target consensus of $58.
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Based on Sysco Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $536 million. In comparison, last year the company had a net profit of $449 million.
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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
