These Analysts Cut Their Forecasts On TD Synnex Following Q2 Results
Portfolio Pulse from Lisa Levin
TD Synnex Corp (SNX) reported worse-than-expected Q2 results and issued Q3 guidance below estimates. Q2 revenue declined 7.9% Y/Y to $14.06 billion, missing the consensus of $14.42 billion. Adjusted EPS was $2.43, below the consensus of $2.55. The company expects Q3 revenue of $13.5 billion-$14.5 billion, below the consensus of $14.96 billion. Following the announcement, Raymond James, Credit Suisse, and Barclays cut their price targets on SNX.
June 28, 2023 | 1:02 pm
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TD Synnex's disappointing Q2 results and Q3 guidance led to a drop in its share price and lowered price targets from several analysts.
TD Synnex's worse-than-expected Q2 results and lower Q3 guidance have led to a negative market reaction, as evidenced by the 5% drop in its share price. Additionally, several analysts have lowered their price targets on the stock, indicating a bearish outlook in the short term.
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IMPORTANCE 80
RELEVANCE 100