UPDATE: Citi Lowers Price Target On Sysco To $31

According to Citi, Sysco SYY price target is lowered to $31. Citi said that SYY reported F4Q11 EPS of 57c vs. the FC est. of 57c, on rev of $10.4B vs. the FC est. of $10.4B. “Given lower est's, we're reducing our tgt price to $31 from $34.” Sysco closed yesterday at $28.11.