Sysco price target lowered to $79 from $81 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Sysco to $79 from $81 and keeps an Equal Weight rating on the shares. The firm has a more cautious outlook relative to peers given recent underperformance vs. expectations and guidance, as well as some uncertainty around the FY24 guidance to come in August in the context of some management turnover, the analyst tells investors in a research note.