Sterne Agee Maintains a 'Neutral' on SYNNEX Corp. (SNX); Raising Numbers on Decent Qtr
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Price: $117.24 +1.12%
Rating Summary:
12 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
12 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Sterne Agee maintains a 'Neutral' on SYNNEX Corp. (NYSE: SNX) price target raised from $32 to $38.
Analyst, Shaw Wu, said, "While we believe in SNX’s strong fundamentals, we find its valuation somewhat fully priced here trading at 10x CY12 EPS, at the upper end of leading technology companies trading in the 6x-12x range. Moreover, we see potential downside risk should its higher gross margin levels prove unsustainable as HDD availability improves."
"We are lowering our revenue and raising our EPS. For FY12, we are now at $10.6 billion in revenue and $4.25 in EPS (from $11 billion and $4.20 in EPS) vs. consensus at $10.9 billion and $4.24 in EPS. For FY13, we are introducing estimates of $11.3 billion and $4.55 in EPS vs. consensus at $11.5 billion and $4.66 in EPS."
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, Shaw Wu, said, "While we believe in SNX’s strong fundamentals, we find its valuation somewhat fully priced here trading at 10x CY12 EPS, at the upper end of leading technology companies trading in the 6x-12x range. Moreover, we see potential downside risk should its higher gross margin levels prove unsustainable as HDD availability improves."
"We are lowering our revenue and raising our EPS. For FY12, we are now at $10.6 billion in revenue and $4.25 in EPS (from $11 billion and $4.20 in EPS) vs. consensus at $10.9 billion and $4.24 in EPS. For FY13, we are introducing estimates of $11.3 billion and $4.55 in EPS vs. consensus at $11.5 billion and $4.66 in EPS."
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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