Brean Murray Carret & Co. Maintains a 'Buy' on SYNNEX Corp. (SNX); Guidance Softer Than Street, But Within Seasonal Organic Norm
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Price: $38.17 +1.52%
Rating Summary:
4 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
4 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SNX Now!
Brean Murray Carret & Co. maintains a 'Buy' on SYNNEX Corp. (NYSE: SNX) price target of $40.00 (from $45.00).
Analyst, Ananda Baruah, said, "We're reducing our estimates somewhat with guidance and reducing our price target; we continue to like the name as: SNX continues to generate mid-single digit revenue growth (ahead of the market); SNX should expand OM's sequentially through the year as retail, services and Japanese margins all expand; and SNX has No European exposure, and therefore is shielded from both European macro and FX headwinds."
FY12 EPS estimate lowered from $4.00 to $3.87.
For an analyst ratings summary and ratings history on SYNNEX Corp. click here. For more ratings news on SYNNEX Corp. click here.
Shares of SYNNEX Corp. closed at $33.04 yesterday, with a 52 week range of $22.56-$44.25.
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Analyst, Ananda Baruah, said, "We're reducing our estimates somewhat with guidance and reducing our price target; we continue to like the name as: SNX continues to generate mid-single digit revenue growth (ahead of the market); SNX should expand OM's sequentially through the year as retail, services and Japanese margins all expand; and SNX has No European exposure, and therefore is shielded from both European macro and FX headwinds."
FY12 EPS estimate lowered from $4.00 to $3.87.
For an analyst ratings summary and ratings history on SYNNEX Corp. click here. For more ratings news on SYNNEX Corp. click here.
Shares of SYNNEX Corp. closed at $33.04 yesterday, with a 52 week range of $22.56-$44.25.
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