Needham & Company Downgrades SYNNEX Corp. (SNX) to Buy
Tweet Send to a FriendGet Alerts SNX Hot Sheet
Price: $43.72 --0%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade SNX Now!
Needham & Company downgraded SYNNEX Corp. (NYSE: SNX) from Strong Buy to Buy with a price target of $40.00 (from $42.00).
"While no one is immune to macroeconomic headwinds, we prefer those companies with management teams proven to execute in both rising and falling tides. We believe SNX is just such a company," said analyst Richard Kugele.
"However," added Kugele, "with weak consumer spending, increased pricing pressure, back-end-loaded Federal spending, and only stable commercial demand, even SNX is seeing challenges that we think warrant material EPS reductions and a lower price target."
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 $34.25 yesterday, with a 52 week range of $23.19-$44.25.
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
"While no one is immune to macroeconomic headwinds, we prefer those companies with management teams proven to execute in both rising and falling tides. We believe SNX is just such a company," said analyst Richard Kugele.
"However," added Kugele, "with weak consumer spending, increased pricing pressure, back-end-loaded Federal spending, and only stable commercial demand, even SNX is seeing challenges that we think warrant material EPS reductions and a lower price target."
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 $34.25 yesterday, with a 52 week range of $23.19-$44.25.
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)
- Wells Fargo Starts StealthGas (GASS) at Outperform
- Wells Fargo Upgrades Tibco Software, Inc. (TIBX) to Outperform; Near a Bottom
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
Needham & Company
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!
