KeyBanc Upgrades ScanSource (SCSC) to Buy, $32 Price Target
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KeyBanc has issued a mid-day upgrade on shares of ScanSource (Nasdaq: SCSC) today. The firm now rates the company a Buy, up from Hold previously, and also set a $32 price target.
The firm believes that the stock's recent weakness (down 11% since October 8) provides a compelling entry point. KeyBanc sees the near-term margin headwinds as likely priced in, but feels that shares "do not accurately reflect the benefits from multiple growth opportunities over the next 12-24 months"
ScanSource, Inc. operates as a wholesale distributor of specialty technology products to resellers.
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