UBS maintains Buy rating on Sysco stock, sees $83 price target

Published 02/06/2025, 15:42
UBS maintains Buy rating on Sysco stock, sees $83 price target

On Monday, UBS analysts reiterated a Buy rating for Sysco stock (NYSE: SYY) with a price target of $83, aligning with the broader analyst consensus that ranges from $72 to $88. According to InvestingPro analysis, Sysco is currently undervalued based on its Fair Value model. This decision follows recent meetings where Sysco emphasized its strategic focus amidst challenging macroeconomic conditions. The company highlighted improvements in industry traffic, citing Black Box data, although overall traffic remains negative.

Sysco has faced approximately 15 months of traffic challenges, with industry volume growth and inflation figures returning to more normal levels. Despite these hurdles, Sysco, with its substantial $80.79 billion in revenue and impressive 55-year track record of maintaining dividends, believes it is positioned to gain market share. The company acknowledged short-term disruptions due to changes in its salesforce compensation and a delay in increasing headcount compared to competitors. However, Sysco has added around 7% more staff last year and expects moderate growth in the future.

The new hires are expected to boost productivity, with full maturity anticipated in two to three years. Sysco also plans to support its margins through over $100 million in cost reduction initiatives, targeting both cost of goods sold and selling, general, and administrative expenses. These efforts include leveraging its scale to enhance strategic sourcing, reduce inbound logistics costs, and streamline corporate expenses.

Additionally, Sysco sees an opportunity to improve driver and selector productivity, which has not yet returned to 2019 levels. The company remains optimistic about its potential for growth as industry traffic conditions eventually improve. For deeper insights into Sysco’s financial health (rated GOOD by InvestingPro), including exclusive ProTips and comprehensive analysis, investors can access the detailed Pro Research Report, part of the extensive coverage available for 1,400+ US stocks.

In other recent news, Sysco Corporation (NYSE:SYY) reported its Q3 2025 earnings, which fell short of expectations with an earnings per share (EPS) of $0.96 compared to the anticipated $1.03, and revenue of $19.6 billion against a forecast of $20.12 billion. This underperformance led to a revision in Sysco’s full-year sales growth guidance to approximately 3%. Despite these challenges, Sysco noted a strong performance in its international segment, with a 4.5% increase in local volume. UBS analyst Mark Carden adjusted Sysco’s price target to $83 from $86, maintaining a Buy rating, citing broader industry challenges and a softer macroeconomic environment. Meanwhile, Citi initiated coverage on Sysco with a Neutral rating and a $78 price target, expressing concerns about near-term prospects due to compensation changes and employee turnover. Sysco’s market performance has been aligned with industry trends, and the company has postponed its forecast for a meaningful rise in local case volume growth until fiscal year 2026. Despite the current challenges, Sysco remains focused on its cost savings initiatives, expecting to deliver $100 million in savings.

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