Bernstein lowered the firm’s price target on Sysco (SYY) to $85 from $90 and keeps a Market Perform rating on the shares. The firm says Sysco’s Q3 print reinforced the narrative of a business that is gaining traction in local while navigating a muted restaurant backdrop, with 3.3% local volume growth in Q3 representing the strongest local performance since Q1 2023 and a 210bps sequential improvement.
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