Sterne Agee Maintains a 'Buy' on Ingram Micro (IM); Adjusting Estimates and PT After Solid Qtr

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April 27, 2012 8:08 AM EDT
Get Alerts IM Hot Sheet
Price: $38.89 --0%

Rating Summary:
    3 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 15 | New: 40
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Sterne Agee maintains a 'Buy' on Ingram Micro (NYSE: IM) price target raised from $22 to $24.

Analyst, Shaw Wu, said, "IM reported a solid March quarter where revenue came in slightly light but beat EPS by 4 cents due to favorable HDD pricing and a higher margin product mix. Of note, its tangible book value continued to build, now at $22.23 per share (from $20.86 last quarter). We are trimming our FY12 EPS due to higher taxes and introducing FY13.

For an analyst ratings summary and ratings history on Ingram Micro click here. For more ratings news on Ingram Micro click here.

Shares of Ingram Micro closed at $19.50 yesterday.

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