Kaufman Bros. Initiates Coverage on Synnex Corp. (SNX) with a Buy; Sees Continued Margin Expansion
More News related to ADTN
- ADTRAN and Innovation Technologies Bring Leading-Edge Voice Communications to Hospitality Industry
- ADTRAN Delivers Advanced Video Solutions
- Kaufman Bros. Initiates Coverage on Synnex Corp. (SNX) with a Buy; Sees Continued Margin Expansion
- The Champlain Telephone Company Selects ADTRAN Total Access 5000 for High-Capacity Ethernet Service Delivery
- ADTRAN Introduces Industry's First Sealed DSLAM with >100 Mbps Backhaul over Existing Copper
More News related to CSCO
- Cisco Router Sent Into Space Aboard Intelsat Satellite
- Cisco Finds Organizations Not Ready to Operate as Usual During Workforce Disruptions
- NetApp (NTAP) and Cisco (CSCO) OK, CEO Remarks -DJ
- Hewlett-Packard (HPQ) Set To Deliver Already Telegraphed Q4 Results
- Global Security Information Now On-the-Go With Cisco iPhone Application
More News related to FALC
- Royal Borough of Kensington & Chelsea Leverages FalconStor and VMware Solutions to Optimize Backup and Automate Disaster Recovery
- FalconStor Software Named a 2009 Tech Innovator by Everything Channel's CRN
- FalconStor Customers Achieve Continuous Data Availability and Instant Data Recovery Using Integrated Backup and DR Solution
- Kaufman Bros. Initiates Coverage on Synnex Corp. (SNX) with a Buy; Sees Continued Margin Expansion
- After-Hours Movers 10/28: GIGA, EGHT, CATM, AKAM, LMAT, LNC Higher; FSLR, FLS, FALC, OI Lower
More News related to New Coverage
- American Woodmark (AMWD) Posts Q2 Loss of $0.36, Misses Views
- Warner Music (WMG) Swings to Q4 Loss
- Vimpel-Communications (VIP) Posts Q3 EPS of $0.43; Revs Higher
- Brocade Communications (BRCD) Tops Q4 Views by 2c; Reaffirms Outlook
- Analog Devices' (ADI) Beat and Raise Quarter
Kaufman Bros. initiates coverage on Synnex Corp. (NYSE: SNX) with a Buy. Price target $34.
Kaufman analyst says,"We believe the key question investors are asking about Synnex these days is: can it continue to expand margins in light of competition and as it enters some lower profit segments such as consumer? In short, we believe the answer is yes...We believe the company has been careful in choosing to enter segments where it can be accretive and value added. For example, in the consumer space it is focused on higher value-added segments including digital TV and audio-video installations...In addition, we see great opportunity in value-added services as well as networking and unified communications. The value-added services include supply chain management, call centers and logistics where we estimate the contribution to be only 2% of Synnex's revenue but roughly 10% of profits. We believe there is opportunity for this to double over the next few years. Networking and unified communications is arguably one of the most profitable segments within hardware."
"Today we estimate networking consists of only 5%-6% of Synnex's revenue compared to 10%-15% at its key competitors. Today the company works with key players including HP (NYSE: HPQ), Siemens (NYSE: SI), ADTRAN (Nasdaq: ADTN), Belkin, Enterasys, Falconstor (Nasdaq: FALC), and others. We see the opportunity to potentially work with Cisco (Nasdaq: CSCO) and Juniper (Nasdaq: JNPR) in the future."
"We are modeling $7.65 billion in revenue and $2.60 in EPS for fiscal 2009 and $8 billion in revenue and $2.85 in EPS for fiscal 2010 vs. consensus estimates at $7.7 billion and $2.59 and $8.1 billion and $2.80, respectively."
To see more analyst ratings on SNX Click Here.
Related Categories
New CoverageStocks Mentioned
+0.00Related Entities
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!
