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KeyBanc Upgrades ScanSource (SCSC) to Buy, $32 Price Target

October 23, 2009 1:42 PM EDT
SCSC Hot Sheet
Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 7 | New: 23
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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