SYNNEX Corp. (SNX) Tops Q4 EPS by 65c, Revenues Beat; Offers Q1 EPS Guidance Above Consensus, Q1 Revenue Mid-Point Outlook Above Consensus

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Go back to SYNNEX Corp. (SNX) Tops Q4 EPS by 65c, Revenues Beat; Offers Q1 EPS Guidance Above Consensus, Q1 Revenue Mid-Point Outlook Above Consensus

SYNNEX Corp. (SNX) PT Raised to $165 at Raymond James on Split Plan

January 10, 2020 7:28 AM EST

Raymond James analyst Adam Tindle raised the price target on SYNNEX Corp. (NYSE: SNX) to $165.00 (from $140.00) while maintaining a Strong Buy rating after results and a plan to split the company in two.

The analyst commented, "We maintain our Strong Buy on... More

SYNNEX Corp. (SNX) to Split Company into Two Publicly Traded Companies

January 9, 2020 4:14 PM EST

SYNNEX Corporation (NYSE: SNX) today announced its plan to separate into two publicly traded companies: comprising of SYNNEX Technology Solutions, a leading IT distribution, services and integrated solutions company, and Concentrix, a leading global CX solutions company. Immediately following the transaction, SYNNEX shareholders will own shares of both SYNNEX and Concentrix.

"Today, SYNNEX is taking affirmative steps to further drive shareholder value by announcing our plan to separate into two strong, independent, public companies," said Dennis Polk, SYNNEX President and CEO. "The spin-off will provide each company with sharper strategic and... More