Collins Stewart Starts SYNNEX Corp. (SNX) at Buy

Collins Stewart initiates coverage on SYNNEX Corp. (NYSE: SNX) with a Buy.

Collins analyst says, "With our launching of the Distribution group, we rate SYNNEX's shares a Buy, but put Neutral ratings on Arrow (NYSE: ARW), Avnet (NYSE: AVT), Ingram Micro (NYSE: IM) and Tech Data. (Nasdaq: TECD). Our Buy rating on SYNNEX is due to the company's superior top-/bottom-line growth (both historical & projected) lack of exposure to Europe, the tailwinds of improving mix of higher-margin business and share gains. SYNNEX has 87% of revenue from North America, no components exposure and has out-grown the group with a 5-yr CAGR of 10%/19% for Revenue & EPS vs the ave of 8%/17%."

For an analyst ratings summary and ratings history on SYNNEX Corp. click here. For more ratings news on SYNNEX Corp. click here.

Shares of SYNNEX Corp. closed at $30.14 yesterday.

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