JPMorgan lowered the firm’s price target on Ingram Micro (INGM) to $26 from $27 and keeps a Neutral rating on the shares post the Q4 report. The company’s results showcased a mixed macro backdrop for enterprise IT spending still, despite an improvement from a more challenged environment 90-180 days ago, the analyst tells investors in a research note. The firm believes Ingram Micro’s execution remains solid.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INGM:
- Ingram Micro Holding Corporation: Hold Rating Amid Mixed Macroeconomic Signals and Margin Pressures
- Ingram Micro Holding Corporation: Positive Outlook Amidst Regional Challenges Justifies Buy Rating
- Ingram Micro Reports Steady Growth Amid Strategic Shifts
- Ingram Micro reports Q4 EPS 92c, consensus 91c
- Ingram Micro sees Q1 EPS 51c-61c, consensus 69c