Sterne Agee Maintains a 'Buy' on Ingram Micro (IM); Brightpoint (CELL) Acquisition Greatly Strengthens Presence
Tweet Send to a FriendGet Alerts IM Hot Sheet
Price: $18.98 -2.01%
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade IM Now!
Sterne Agee maintains a 'Buy' on Ingram Micro (NYSE: IM) price target of $24.00.
Analyst, Shaw Wu, said, "We view this acquisition positively as it makes a lot of strategic sense. Brightpoint (Nasdaq: CELL) beefs up IM's presence in the fast-growing mobile devices space and will be margin accretive. We find IM shares attractive trading at a 20% discount to its tangible book value of $22."
The acquisition deal is expected to be accretive to IM's FY13 (by $0.18) and FY14 (by $0.35), however Wu is maintaining his estimates on IM.
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 $17.47 yesterday, with a 52 week range of $15.45-$19.80.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Shaw Wu, said, "We view this acquisition positively as it makes a lot of strategic sense. Brightpoint (Nasdaq: CELL) beefs up IM's presence in the fast-growing mobile devices space and will be margin accretive. We find IM shares attractive trading at a 20% discount to its tangible book value of $22."
The acquisition deal is expected to be accretive to IM's FY13 (by $0.18) and FY14 (by $0.35), however Wu is maintaining his estimates on IM.
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 $17.47 yesterday, with a 52 week range of $15.45-$19.80.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Goldman Sachs Upgrades Mizuho Financial Group Inc. (MFG) to Buy
- Deutsche Bank Sees Upside in AIG (AIG) Stock
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Mergers and AcquisitionsRelated Entities
Sterne Agee
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
