Needham & Company on Ingram Micro (IM); Like Acquisition of CELL, But Still Concerned About Macro

July 3, 2012 7:42 AM EDT
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Price: $38.89 --0%

Rating Summary:
    4 Buy, 7 Hold, 1 Sell

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    Up: 13 | Down: 22 | New: 54
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Needham & Company maintains a 'Hold' on Ingram Micro (NYSE: IM).

Analyst, Richard Kugele, said, "With the acquisition of BrightPoint (Nasdaq; CELL), we believe IM gains one of the world’s leading mobility services and solutions providers with over $5.5B in disty and logistics revenue. While we like the deal (both strategically and its immediate accretion) we remain concerned with the global macro demand environment and its impact on IT spending."

For an analyst ratings summary and ratings history on Ingram Micro click here. For more ratings news on Ingram Micro click here.

Shares of Ingram Micro closed at $17.55 yesterday.

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