Ingram Micro initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Ingram Micro (INGM) with an Outperform rating and $26 price target Ingram is a top-tier global tech distributor connecting 1,500 vendors to more than 161,000 customers, the analyst tells investors in a research note. The firm says the company is well positioned to benefit from the PC cycle refresh, generative artificial intelligence-enabled technology infrastructure, and technology megatrends, including cloud migration, enhanced security and internet-of-things, the analyst tells investors in a research note.