TD SYNNEX Gearing Up For Return To Y/Y Growth With Advanced Solutions And Digital Transformation, Says Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Matthew Sheerin reiterated a Buy rating on TD SYNNEX Corporation (SNX), raising the price target to $120 from $110. The company is expected to release its Q3 results on September 26, 2023. The analyst expects sales and adjusted EPS estimates of $14.037 billion and $2.49, respectively. The sales estimate reflects an 8.6% y/y decline, driven by declines in Americas and EMEA. However, advanced solutions and digital transformation initiatives are expected to offset this weakness.
September 19, 2023 | 5:18 pm
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TD SYNNEX Corporation's price target has been raised to $120 from $110 by Stifel analyst Matthew Sheerin. The company's Q3 results are expected to be in line with estimates, with advanced solutions and digital transformation initiatives offsetting sales decline.
The news of the price target increase and the positive outlook from the analyst is likely to boost investor confidence in the company, potentially leading to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100