These Analysts Revise Their Forecasts On TD Synnex After Q3 Results
Portfolio Pulse from Lisa Levin
TD Synnex Corp reported a 9.1% Y/Y decline in Q3 revenue to $13.96 billion, missing the consensus of $14.11 billion. However, its adjusted EPS of $2.78 surpassed the consensus of $2.48. Following the earnings announcement, Barclays, Goldman Sachs, and JP Morgan revised their price targets on TD Synnex. The company's shares fell 5.2% to close at $96.56 on Tuesday.
September 27, 2023 | 1:47 pm
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TD Synnex's Q3 revenue missed expectations, leading to a 5.2% drop in share price. However, its EPS beat the consensus. Analysts from Barclays, Goldman Sachs, and JP Morgan revised their price targets following the earnings announcement.
TD Synnex's lower-than-expected Q3 revenue likely contributed to the drop in its share price. However, the company's higher-than-expected EPS may mitigate some of the negative impact. The revised price targets from Barclays, Goldman Sachs, and JP Morgan indicate that analysts are adjusting their expectations for the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100