Needham & Company Reiterates a 'Strong Buy' on SYNNEX Corp. (SNX); Weakness Presents Buying Opportunity
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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, "SNX reported in-line F2Q results, providing guidance that was just below Street on a more muted macro outlook and softer retail environment. Despite these concerns the overall IT demand remains stable for SNX (buoyed by commercial SMB) and its GBS segment continues to make incremental progress. We view SNX favorably on its execution consistency and believe it can achieve leverage despite the current macro environment."
Needham adjusts FY12 EPS estimate from $4.19 to $4.05 and FY13 from $4.98 to $4.40.
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 $33.04 yesterday.
Analyst, Richard Kugele, said, "SNX reported in-line F2Q results, providing guidance that was just below Street on a more muted macro outlook and softer retail environment. Despite these concerns the overall IT demand remains stable for SNX (buoyed by commercial SMB) and its GBS segment continues to make incremental progress. We view SNX favorably on its execution consistency and believe it can achieve leverage despite the current macro environment."
Needham adjusts FY12 EPS estimate from $4.19 to $4.05 and FY13 from $4.98 to $4.40.
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 $33.04 yesterday.
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