In a report released yesterday, Erik Woodring from Morgan Stanley reiterated a Buy rating on TD SYNNEX Corporation, with a price target of $181.00.
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Erik Woodring’s rating is based on several compelling factors that highlight TD SYNNEX Corporation’s strong performance and future potential. The company has demonstrated robust execution in its core distribution segment, which has outperformed expectations, and Hyve’s growth has accelerated significantly, contributing to a positive shift in their Advanced Solutions mix. This strong execution has led to impressive financial results, including a 25% year-over-year increase in EPS and operating margins reaching a five-year high.
Looking ahead, Woodring anticipates continued growth with projected earnings per share of $15.10 for fiscal year 2026, which is 11% above consensus estimates. He believes the current valuation of the stock is attractive, trading at a price-to-earnings ratio of 10.5x, which is relatively low given the company’s potential for mid-teens total return growth and expanding margins. These factors collectively support his Buy rating and the new price target of $181, suggesting a favorable risk-reward profile for investors.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $180.00 price target.
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNX in relation to earlier this year.