Sysco price target lowered to $72 from $88 at Citi

Citi lowered the firm’s price target on Sysco (SYY) to $72 from $88 and keeps a Neutral rating on the shares. The firm says the stock sold off yesterday on Sysco’s intent to acquire Jetro Restaurant Depot. While the deal brings expected accretion, questions around Sysco’s due diligence challenges and execution risk are fair, the analyst tells investors in a research note. Citi thinks disproving the bear thesis could take years, creating on overhang on the stock.