TMCnet News

Downgrade Alert for Sysco (SYY)
[April 09, 2013]

Downgrade Alert for Sysco (SYY)


Apr 09, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Sysco (NYSE:SYY) was downgraded from Neutral to Underperform at Cleveland Research today. The stock closed yesterday at $34.16 on volume of 5.1 million shares, above average daily volume of 4.0 million. Sysco (NYSE:SYY) is currently priced 13.3% above its average consensus analyst price target of $29.62. The stock should find initial support at its 50-day moving average (MA) of $33.02 and further support at its 200-day MA of $31.16.



In the past 52 weeks, shares of Sysco have traded between a low of $27.05 and a high of $35.62 and closed yesterday at $34.16, which is 26% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

Sysco Corporation distributes food and related products primarily to the foodservice industry. The Company also distributes personal care guest amenities, housekeeping supplies, room accessories, and textiles to the lodging industry.


SmarTrend recommended that subscribers consider buying shares of Sysco on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.61. Since that recommendation, shares of Sysco have risen 8.1%. We continue to monitor SYY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

[ Back To TMCnet.com's Homepage ]