Sysco price target lowered to $83 from $85 at Truist

Truist analyst Jake Bartlett lowered the firm’s price target on Sysco (SYY) to $83 from $85 and keeps a Buy rating on the shares. The firm cites the company’s slight miss on Q2 adjusted EBITDA but believes that Sysco’s sales driving initiatives such as new comp plan and sales force expansion, as well as macro tailwinds and margin expansion efforts, will drive accelerating EBITDA growth and multiple expansion, the analyst tells investors in a research note.