Needham & Company Reiterates a 'Strong Buy' on SYNNEX Corp. (SNX); Continues To Zig While The World Zags, Posting Impressive F3Q Results & Guidance
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Price: $258.74 +1.63%
Rating Summary:
15 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Strong Buy' on SYNNEX Corp. (NYSE: SNX) price target of $42.00.
Needham analyst says, "Conventional wisdom (which of course is often neither) is that IT spending is standing at the precipice, consumer demand is non-existent, and that distributors should therefore trade below tangible book. SNX’s F3Q results stand in stark contrast, with record margins, continued commercial growth, and even signs of improving consumer demand. With the stock stubbornly below tangible book, we reiterate our rating."
"Model: odel: F4Q is adjusted to $1.13, up from $1.08, on unchanged $2.8B in revenue. F12 estimates revised to $11B and $4.19 vs. $11B and $4.06."
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 $24.91 yesterday.
Needham analyst says, "Conventional wisdom (which of course is often neither) is that IT spending is standing at the precipice, consumer demand is non-existent, and that distributors should therefore trade below tangible book. SNX’s F3Q results stand in stark contrast, with record margins, continued commercial growth, and even signs of improving consumer demand. With the stock stubbornly below tangible book, we reiterate our rating."
"Model: odel: F4Q is adjusted to $1.13, up from $1.08, on unchanged $2.8B in revenue. F12 estimates revised to $11B and $4.19 vs. $11B and $4.06."
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 $24.91 yesterday.
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