Ingram Micro initiated with a Buy at BofA as PC market recovers

As previously reported, BofA initiated coverage of Ingram Micro (INGM) with a Buy rating and $30 price target As one of the world’s largest technology distributors, the firm sees Ingram having competitive advantages that includes its global footprint and broad line card, the analyst tells investors. Ingram will benefit from the bottom of the cycle being reached in key end markets and its poised for growth as the PC market rebounds and datacenter demand grows, the analyst added.