Ingram Micro initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of Ingram Micro (INGM) with a Buy rating and $26 price target As one of the top IT distributors globally, Ingram is poised to benefit from positive inflections in more cyclical pockets of IT spend, including PC’s and networking, the analyst tells investors in a research note. The firm believes believes recent commentary from top tech players indicates reason for more optimism around inflections in the near term relating to the PC refresh and networking cycle uptick, fueling its expectation for a return sales growth at the company next quarter.