Wells Fargo Sticks to Their Buy Rating for Sysco Corp

By Jason Carr

In a report released today, Zachary Fadem from Wells Fargo reiterated a Buy rating on Sysco Corp (NYSE: SYY). The company’s shares opened today at $51.72.

According to TipRanks.com, Fadem is a 1-star analyst with an average return of -5.3% and a 34.6% success rate. Fadem covers the Services sector, focusing on stocks such as Floor & Decor Holdings Inc, Performance Food Group, and US Food Holdings Corp.

Currently, the analyst consensus on Sysco Corp is Moderate Buy and the average price target is $55.57, representing a 7.4% upside.

In a report released today, J.P. Morgan also maintained a Buy rating on the stock with a $57 price target.

The company has a one year high of $57.07 and a one year low of $47.15. Currently, Sysco Corp has an average volume of 2.68M.

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Sysco Corp. is engaged in selling, marketing and distribution of food and food related products to the foodservice or food-away-from-home industry. It operates through the following segments: Broadline, SYGMA and Others. The Broadline segment distributes a full line of food products and a wide variety of non-food products to their customers. The SYGMA segment provides a full line of food products and a wide variety on non-food products to chain restaurant customer locations. The Others segment includes product and lodging industry products segments, a company that distributes specialty imported products, a company that distributes to international customers and the company’s Sysco Ventures platform, a suite of technology solutions that help support the business needs of Sysco’s customers. The company products include frozen foods, canned and dry foods, fresh meats and seafood, dairy products, beverage products, and fresh produce. The company was founded by John F. Baugh in 1969 and is headquartered in Houston, TX.,000X5W-E