Sysco price target lowered to $77 from $79 at Morgan Stanley

Morgan Stanley analyst Brian Harbour lowered the firm’s price target on Sysco (SYY) to $77 from $79 and keeps an Equal Weight rating on the shares. As case growth metrics haven’t really made progress, the firm is “comfortable staying sidelined on the stock until more concrete evidence of progress emerges,” adding that it doesn’t yet have increased confidence this is here and the reaction to the Q2 report “suggests this view is shared.”