Barclays maintains an 'Equalweight' on Tech Data (TECD); Slight Adjustments on Q1 Results

May 22, 2012 2:27 PM EDT
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Price: $84.94 +1.52%

Rating Summary:
    3 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 21 | New: 54
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Barclays maintains an 'Equalweight' on Tech Data (NASDAQ: TECD) price target lowered from $56 to $54.

Analyst, Ben A. Reitzes, said, "Excluding revenue accounting changes, the TECD report was in line. We believe trends in Europe could still act as headwinds in upcoming quarters. That said, we expect solid execution on the bottom line to continue."

Barclays maintains FY13 EPS estimate at $5.70 and FY14 at $6.10, but lowers Q3 from $1.24 to $1.20. FY13 revs cut from $26.34 billion to $25.02 billion and FY14 from $27.6 billion from $25.99 billion.

For an analyst ratings summary and ratings history on Tech Data click here. For more ratings news on Tech Data click here.

Shares of Tech Data closed at $47.88 yesterday.

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