Barclays Maintains an 'Equalweight' on Ingram Micro (IM); Pre-announces Weaker-than-Expected 3Q11 Earnings as Issues Linger

Barclays maintains an 'Equalweight' on Ingram Micro (NYSE: IM) price target cut $1 to $18.

Barclays analyst says, "We are lowering our EPS estimates for IM based on our view that margins and revenues will continue to be under pressure in EMEA and in APAC into next year. For F3Q11, we now estimate EPS of $0.33 (was $0.40) based on 5.3% y/y revenue growth to $8.89bn (was $8.90bn). For F4Q11, we now estimate EPS of $0.57 (was $0.69) and revenue of $10.2bn (was $10.3bn). For FY11 we now estimate EPS of $1.61 (was $1.80) and revenue of $36.6bn (was $36.7bn). For FY12 we now estimate EPS of $1.93 (was $2.15) and revenue of $37.9bn (was $38.4bn)."

For more ratings news on Ingram Micro click here and for the rating history of Ingram Micro click here.

Shares of Ingram Micro closed at $18.72 yesterday.

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