Truist analyst Jake Bartlett lowered the firm’s price target on Sysco to $87 from $91 and keeps a Buy rating on the shares following its Q3 revenue miss. The firm continues to view Sysco and its large competitors as well positioned to accelerated share gains in the face of macro challenges without intensifying price competition, the analyst tells investors in a research note. Sysco has found additional cost savings to offset the impact of sales pressure, and the company’s productivity gains should continue, Truist added.
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