Needham & Company Reiterates a 'Strong Buy' on SYNNEX Corp. (SNX); Buyers on Weakness
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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.
Analyst, Richard Kugele, said, "After such a strong run-up since the last earnings call (up 36% vs S&P 500’s up 9% since Jan 10) F1Q report and F2Q guidance had to be flawless and not require explaining. Unfortunately, we expect SNX to be under pressure as a number of crosscurrents (which we don’t see fully reflected in Street estimates) impact F2Q guidance. None of these issues is thesis-changing, in our view, but we expect them to impact the model and short-term perception. We would be buyers on any related pullback."
Needham lowers FY12 EPS estimate from $4.24 to $4.19, but raises FY13 from $4.44 to $4.98.
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 $43.64 yesterday.
Analyst, Richard Kugele, said, "After such a strong run-up since the last earnings call (up 36% vs S&P 500’s up 9% since Jan 10) F1Q report and F2Q guidance had to be flawless and not require explaining. Unfortunately, we expect SNX to be under pressure as a number of crosscurrents (which we don’t see fully reflected in Street estimates) impact F2Q guidance. None of these issues is thesis-changing, in our view, but we expect them to impact the model and short-term perception. We would be buyers on any related pullback."
Needham lowers FY12 EPS estimate from $4.24 to $4.19, but raises FY13 from $4.44 to $4.98.
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 $43.64 yesterday.
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