SYNNEX Corp. (SNX) PT Raised to $165 at Loop Capital After Tech Data Merger Closes

October 5, 2021 6:58 AM EDT
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Price: $106.93 +1.12%

Rating Summary:
    8 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 25 | New: 90
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Loop Capital analyst Ananda Baruah raised the price target on SYNNEX Corp. (NYSE: SNX) to $165.00 (from $150.00) to account for Synnex and Tech Data closing the merger (on 9/1) and
putting up an attractive initial combined EPS guidance.

The analyst reiterated a Buy rating, stating "we view the company’s strengths greatly complimenting each other and anticipate material cost synergies as well as both market share gain, new geographic entries now made possible, and the ability to generate strongly differentiated services offerings (think digital data and cloud access solutions). We see the combined company as at least a $155 - $175 stock (13x normalized EPS), and more likely $175 - $200."

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