Needham & Company Reiterates a 'Strong Buy' on SYNNEX Corp (SNX); Posts Solid F1Q Despite Acquisitions; Excluding Minor Impact From Events In Japan Recovering IT Market Evident

Needham & Company reiterates a 'Strong Buy' on SYNNEX Corp. (NYSE: SNX), PT $42.

Needham analyst says, "Although the horrible events in Japan have had a slight impact to the business, we expect only a temporary delay in accretion due to SNX’s history of execution and broad-based strength in NA & Canada. We would be a buyer on any pullbacks...SNX expects $2.44-2.56B in revenue, net income of $28.6-29.9M and EPS of $0.77-0.81 vs. our $2.52B and $0.81 forecast. Adjusting estimates for F2Q to $2.5B and $0.79. F11 becomes $10.4B and $3.58, up from $10.4B and $3.53. Our F12 estimate becomes $11B and $4.06 from $10.6B and $3.62."

For more ratings news on SYNNEX Corp. click here and for the rating history of SYNNEX Corp. click here.

Shares of SYNNEX Corp. closed at $34.15 yesterday.

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