Needham & Company Maintains a 'Buy' on Tech Data (NASDAQ: TECD); In-Line Q4 and Muted Q1
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Price: $144.90 --0%
Rating Summary:
4 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Tech Data (NASDAQ: TECD) price target raised from $54 to $57.
Analyst, Richard Kugele, said, "While macro headwinds in Europe and soft IT demand hampered TECD’s F4Q and F13 guide, we believe the story is transforming from focusing on top line growth to one looking upon operational execution. We believe yesterday’s downtick is likely an overreaction and we think the stock remains attractive at these levels, especially as the European realignment starts to bear fruit and overarching headwinds subside."
"Adjusting F1Q estimates to $6.3B/$1.27 vs. our prior $6.7B/$1.36, and our F13 estimates to $26.1B/$5.63 vs. our prior $27.2B and $5.96. We introduce our F14 estimates of $27.1B and $6.20."
For an analyst ratings summary and ratings history on Tech Data click here. For more ratings news on Tech Data click here.
Shares of Tech Data closed at $53.99 yesterday.
Analyst, Richard Kugele, said, "While macro headwinds in Europe and soft IT demand hampered TECD’s F4Q and F13 guide, we believe the story is transforming from focusing on top line growth to one looking upon operational execution. We believe yesterday’s downtick is likely an overreaction and we think the stock remains attractive at these levels, especially as the European realignment starts to bear fruit and overarching headwinds subside."
"Adjusting F1Q estimates to $6.3B/$1.27 vs. our prior $6.7B/$1.36, and our F13 estimates to $26.1B/$5.63 vs. our prior $27.2B and $5.96. We introduce our F14 estimates of $27.1B and $6.20."
For an analyst ratings summary and ratings history on Tech Data click here. For more ratings news on Tech Data click here.
Shares of Tech Data closed at $53.99 yesterday.
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