Needham & Company Reiterates a 'Strong Buy' on SYNNEX (SNX); Strong F4Q With Solid Top Line Growth and Exceptional Margin Expansion

Needham & Company reiterates a 'Strong Buy' on SYNNEX Corp. (NYSE: SNX) price target of $42.00.

Needham analyst says, "SNX continues to execute well, and delivered another solid quarter of revenue growth while posting robust margin expansion, despite the less than favorable macro environment. SNX saw solid commercial and retail demand in F4Q with key investments and share gains propelling the company to growth across all business segments. The outlook for SNX remains positive with the company intently focused on driving further revenue growth through margin accretive services, products and acquisitions."

"Revising on improved margin profile: F1Q goes to $2.52B/$0.91 vs. $2.52B/$0.88. F12 estimates revised to $11B and $4.24 vs. $11B and $4.19. We also introduce our F13 estimates of $11.62B and $4.44."

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 $32.09 yesterday.

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