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Sysco (SYY) PT Lifted by Guggenheim as Firm Highlights Importance of Local Case Growth
Yahoo Finance· 2026-02-20 23:08
Group 1 - Sysco Corporation is recognized as one of the 16 Best Dividend Stocks with Rising Payouts [1] - Guggenheim raised its price target for Sysco to $95 from $91, maintaining a Buy rating, highlighting the importance of local case growth due to a 22% increase relative to the S&P 500 this year [2] - Sysco raised its full-year profit outlook after reporting strong second-quarter results, driven by high demand for steaks, fillets, and frozen food, particularly in the US market [3] Group 2 - The company focused on cost control measures, including reducing shipping expenses and renegotiating supplier agreements, which helped offset higher input costs and supported profitability [4] - Sysco's international business showed strong performance, with sales increasing by 7.3% and gross margin improving by 42 basis points to 20.8% in the quarter ended December 27 [4] - Sysco sells and distributes food products to various sectors, including restaurants, hospitals, schools, and hotels, and also provides non-food items to support customer operations [5]