Sysco price target lowered to $90 from $96 at BMO Capital

BMO Capital analyst Kelly Bania lowered the firm’s price target on Sysco to $90 from $96 but keeps an Outperform rating on the shares after its Q2 earnings miss. The company’s expenses seem to be coming in higher than expected and Q2 results were modestly disappointing, but Sysco seems to be setting up for stronger days ahead and the firm’s ex-currency top-line forecast for FY23 is largely unchanged, the analyst tells investors in a research note.