Sysco price target raised to $88 from $77 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Sysco (SYY) to $88 from $77 and keeps an Equal Weight rating on the shares. Calendar Q3 demand “wasn’t bad at a high level,” but September slowed visibly, fast casual was weak, and much of quick service remained soft, the analyst tells investors in a Q3 preview for the restaurants and food distributors.